The purchase of an existing partner's interest is not a personal transaction between the two individuals and is between the partnership and the new partner.

Name: The purchase of an existing partner's interest is not a personal transaction between the two individuals and is between the partnership and the new partner.
Brand: Quizplus
Rating: 5.0 (35 reviews)

Question

Quizplus · Accepted Answer

The purchase of an existing partner's interest is a personal transaction between the selling partner and the buying individual, not involving the partnership itself.

The Purchase of an Existing Partner's Interest Is Not a Personal