When one person purchases the partnership interest of a partner,a new partnership agreement will have to be created.

Name: When one person purchases the partnership interest of a partner,a new partnership agreement will have to be created.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

Whenever a change occurs in the partnership structure, such as one partner purchasing the interest of another partner, a new partnership agreement should be drafted to reflect the new ownership and responsibilities of the partners.

When One Person Purchases the Partnership Interest of a Partner,a