Jim and Kyle are partners in J&K Sales, which exports technical equip?ment under a three-year partnership agreement. The U.S. gov?ernment declares that the equipment can no longer be ex?ported. J&K
A) dissolves as soon as the stated term expires.
B) dissolves as soon as the partners agree to dissolve it.
C) dissolves immediately unless the partners change its business.
D) does not dissolve.

Question

Quizplus · Accepted Answer

The partnership agreement was based on the assumption that the equipment could be exported, and the change in government regulations fundamentally alters the nature of the business. Therefore, the partnership must dissolve unless the partners agree to change the business to something else.

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