Under RUPA,a ________ takes place whenever a partner is no longer associated with the running of the firm.
A)dissolution
B)dissociation
C)rescission
D)devolution

Question

Quizplus · Accepted Answer

RUPA defines dissociation as the event that occurs when a partner is no longer associated with the running of the firm, but the partnership continues to exist. Dissolution, on the other hand, refers to the termination of the partnership as a whole. Rescission is not a term commonly used in the context of partnership law, and devolution does not have a clear meaning in this context.

Under RUPA,a ________ Takes Place Whenever a Partner Is No