Which of the following is true regarding notice of a partnership's dissolution?
A)The law requires notice of dissolution to be given through a newspaper.
B)Notice of dissolution is not necessary when a dormant or a secret partner retires.
C)Notice of dissolution is necessary when the partnership is dissolved by a judicial decree.
D)Notice of dissolution is necessary when a partnership is dissolved by the operation of law.

Question

Quizplus · Accepted Answer

Notice of dissolution is not necessary for dormant or secret partners because they are not known to the public or third parties, so their retirement does not affect the partnership's external relations.

Which of the Following Is True Regarding Notice of a Partnership's