Partner's Interest Flashcards
1
Q
Generally
A
Partner’s interest includes (1) management and other rights, and (2) right to share profits and losses and receive dividends.
Partner may NOT transfer right to management.
2
Q
Share of profits & Transferability
A
This is a transferable interest. Such a conveyance does not dissolve the p’ship. At dissolution though, transferee is entitled to receive his transferor’s net amount distributable and may require an accounting.
Treated as personal property.
