Partnership Managing Partner Powers and Revocation Quiz

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In a partnership, when can the power of the managing partner be revoked without their consent?

If the managing partner makes a decision not in the best interest of the partnership (correct)

If the managing partner acts in good faith

If the managing partner is appointed manager after the partnership has been constituted

If the managing partner executes all acts of administration

In a situation where the managing partners must act unanimously, what is required for the validity of their acts?

Approval of the partner owning the controlling interest

Unanimous vote of all managing partners (correct)

Majority vote of all managing partners

The decision of the partner with the highest ownership stake

When can a managing partner's decision on acts of administration be reversed?

By the managing partner's consent

By the controlling interest partners only

By the vote of all partners including the managing partner

By the vote of majority of partners (correct)

According to the rules of management when no manner of management has been agreed upon, what happens in case of opposition from other partners?

The decision of the majority shall prevail Signup and view all the answers

What rule applies when a partner has been appointed manager after the partnership has been constituted?

He may be removed with just cause by the vote of partners representing controlling interest Signup and view all the answers

Under what condition can a managing partner act alone in selling real property not classified as inventory?

If estoppel is created against the partnership Signup and view all the answers

What are the rules of partnership management when two or more partners have been appointed as managers?

Each managing partner performs all duties specified in his appointment Signup and view all the answers

What is the criterion for appointing a manager in a partnership when there is no agreed manner of management?

Decision of partners with controlling interest Signup and view all the answers

Under what circumstances can a managing partner be removed without just cause?

By a simple majority vote of all partners Signup and view all the answers

How can a managing partner's power be revoked if there is imminent danger to the partnership?

Unanimous vote of all managing partners Signup and view all the answers

What is a valid ground for removing a managing partner?

Opposition to decisions on acts of administration Signup and view all the answers

On what grounds can a managing partner be removed according to partnership rules?

By decision of majority partners Signup and view all the answers

What happens in case of opposition to the decision of the managing partner on acts of administration?

Partners representing the controlling interest may resort to voting for his removal as manager Signup and view all the answers

Under what circumstances can a managing partner be removed?

With the vote of partners representing majority interest, with just cause Signup and view all the answers

When two or more partners are appointed as managers with no specification of duties, what happens if there is a tie in voting?

Decision of the majority of managing partners prevails Signup and view all the answers

If there is no specification of duties for managing partners, and no stipulation that one cannot act without consent, what can each managing partner do individually?

Each one may separately execute all acts of administration Signup and view all the answers

In a scenario where one partner owns the controlling interest and there is a tie in voting among managing partners, what happens?

The decision of the partner owning the controlling interest prevails Signup and view all the answers

What is true about the rules of management when two or more partners have been appointed as managers?

Each managing partner shall perform duties specified in the appointments Signup and view all the answers

Partnership Managing Partner Powers and Revocation Quiz

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