Fact Pattern 32-1
Brad, Carlos, and Dora are general partners in Eastside Physicians, a medical clinic.
-Refer to Fact Pattern 32-1. The partners decide to dissolve Eastside. Dora collects and distributes the firm's assets. This results in
A) nothing with respect to the firm's existence.
B) the continuation of the firm's business.
C) the termination of the firm's legal existence.
D) the temporary suspension of the firm's business.

Question

Fact Pattern 32-1 
Brad, Carlos, and Dora are general partners in Eastside Physicians, a medical clinic.
-Refer to Fact Pattern 32-1. The partners decide to dissolve Eastside. Dora collects and distributes the firm's assets. This results in
A) nothing with respect to the firm's existence.
B) the continuation of the firm's business.
C) the termination of the firm's legal existence.
D) the temporary suspension of the firm's business.

Quizplus · Accepted Answer

When the partners decide to dissolve the firm and distribute its assets, it results in the termination of the firm's legal existence. The firm no longer exists as a legal entity.