Which of the following statements about a transfer of a partner's transferable interest is true?
A)The transfer entitles the transferee to become a partner of the partnership.
B)The transferee has become the creditor of the transferable interest.
C)The transferee can ask a court to dissolve and wind up the partnership,but only if the partnership is at will.
D)The transferee has the right to inspect the partnership's books and records.

Question

Quizplus · Accepted Answer

The sale or transfer of a partner's transferable interest is a voluntary act of the partner.It entitles the buyer or transferee to receive the partner's distributions from the partnership,such as a share of profits.Although the transferee is the owner of the transferable interest,the transferee does not become a partner of the partnership.The transferee has no right to inspect the partnership's books and records or to manage the partnership.The transferee's only other right is to ask a court to dissolve and wind up the partnership,but only if the partnership is at will (i.e. ,has no term or objective).

Which of the Following Statements About a Transfer of a Partner's