Rights powers duties of partners

Question 1

Rights, powers, and duties of partners

Answer 1

Right to bind partners, right to control parnership, duty to share losses. rright to vary provisions, ownership of partnership

Question 2

Joint agency

Answer 2

right to bind partnership

Question 3

decisions in pship

Answer 3

made by majority, equal rights,

Question 4

issue in partnership decision making

Answer 4

no mechanism for resolving disuputes

Question 5

If a partner acts singularly

Answer 5

binds parties, but he is also laible to them.

Question 6

UPA 15

Answer 6

All partners are liable for all debts and obligations of the partnership.

Question 7

upa 19

Answer 7

every partner is an agent of the aprtnersup for carrying on business

Question 8

Joint ownership

Answer 8

of partnership property– all owned by pship

Question 9

partners individual interest in specific property

Answer 9

have non.

Question 10

specific property rights

Answer 10

equal use, owns no specific interest in propetty or assets, can seel his interest, but not specific property or assets itself.

Question 11

upa 13

Answer 11

eachothers torts

Question 12

UPA 18

Answer 12

parnters entitled to idemnity

Question 13

parnters lible for..

Answer 13

al; debts and obligations

Question 14

Right to vary default provisions

Answer 14

UPA RUPA merely default.

Question 15

to expel a partner- defalt for votes .

Answer 15

unanimous

Question 16

default for how many votes each partner has

Answer 16

1