Townsend and Daltrey have a partnership. They wish to admit Starr as a third partner. The partnership

Question:

Townsend and Daltrey have a They wish to admit Starr as a third partner. The agreement is silent on admission of new partners. What is the correct procedure?A. The new partner can be admitted to the existing outrightB. Nothing can be done that will admit the partner to the partnership.C. The new partner can be admitted to the by buying all or a portion of an existing partner
D. The new partner can be admitted by paying a fee to each of the existing members.
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...