Jim and Kyle are partners in J&K Sales,which exports technical equipment under a three-year partnership agreement. One year into the term,Congress declares that the equipment can no longer be exported. J&K
A)can continue its business until the end of the three-year term.
B)can continue its business indefinitely.
C)dissolves immediately unless the partners change its business.
D)is immediately subject to criminal prosecution and penalties.

Question

Quizplus · Accepted Answer

Since the partnership agreement was based on exporting the technical equipment, the change in law makes it impossible for J&K Sales to continue its business as per the original agreement. Therefore, the partnership must dissolve unless the partners decide to change the nature of their business.

Jim and Kyle Are Partners in J&K Sales,which Exports Technical