Podcast
Questions and Answers
Under whose laws is a partnership considered a national?
Under whose laws is a partnership considered a national?
- The laws of the country where the majority of the partners reside
- The laws of the country where the business is conducted
- The laws of the country where the partnership has the most assets
- The laws of the country where the partnership was created (correct)
When does a partnership gain legal personality?
When does a partnership gain legal personality?
- After a certain period of operation
- Upon reaching a specific level of revenue
- From the time the contract begins (correct)
- After obtaining a business license
What happens in the event of death, retirement, or insanity of a partner in a partnership?
What happens in the event of death, retirement, or insanity of a partner in a partnership?
- It has no effect on the status of the partnership
- It converts the partnership into a corporation
- It dissolves the partnership (correct)
- It transfers ownership to the remaining partners
What characteristic defines a general partnership as consensual?
What characteristic defines a general partnership as consensual?
What is a partnership that is designated by a specific name and subject to specific rules applicable only to it?
What is a partnership that is designated by a specific name and subject to specific rules applicable only to it?
Which principle pertains to the right to choose who to associate with in the formation of a partnership?
Which principle pertains to the right to choose who to associate with in the formation of a partnership?
In which situation can a partnership be declared dissolved by judicial decree?
In which situation can a partnership be declared dissolved by judicial decree?
What characteristic does a partnership have with regards to its separate juridical personality?
What characteristic does a partnership have with regards to its separate juridical personality?
What is one of the rules to apply in determining the existence of a partnership?
What is one of the rules to apply in determining the existence of a partnership?
How is a corporation created compared to a partnership?
How is a corporation created compared to a partnership?
What is the maximum number of organizers in a corporation?
What is the maximum number of organizers in a corporation?
