Adam, Stanley, and Rosalind formed a partnership in State X to distribute beer and wine. Their agreement

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Adam, Stanley, and Rosalind formed a partnership in State X to distribute beer and wine. Their agreement provided that the partnership would continue until December 31, 2020. Which of the following events would cause the ABC partnership to dissolve? If so, when would the partnership be dissolved?
a) Rosalind assigns her interest in the partnership to Mary on April 1, 2018.
b) Stanley dies on June 1, 2020.
c) Adam withdraws from the partnership on September 15, 2019.
d) A creditor of Stanley obtains a charging order against Stanley's interest on October 9, 2017.
e) In 2018, the legislature of State X enacts a statute making the sale or distribution of alcoholic beverages illegal.
f) Stanley has a formal accounting of partnership affairs on September 19, 2019.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Smith and Robersons Business Law

ISBN: 978-1337094757

17th edition

Authors: Richard A. Mann, Barry S. Roberts

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