Under the UPA,which of the following requires the unanimous consent of the partners?
A) Submission of a partnership claim to arbitration
B) Confession of judgment
C) Disposing of the goodwill of the business
D) All of these require the unanimous consent of the partners.

Question

Quizplus · Accepted Answer

All three options listed require unanimous consent of the partners. Submission of a partnership claim to arbitration allows for resolution of disputes outside of court, but requires agreement from all partners to participate. Confession of judgment is a legal action where a partner admits fault and allows the other partners to sue them for damages, which can have significant financial implications for the business and therefore requires agreement from all partners. Disposing of the goodwill of the business means selling the intangible value or reputation of the company, which can greatly impact its future profitability and also requires unanimous consent.

Under the UPA,which of the Following Requires the Unanimous Consent