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Three (3) of the following are rights of a partner. Which one(1) is not?

a. Right to associate another person to his share.
b. Right to admit another partner
c. Right to inspect and copy partnership books
d. Right to ask dissolution of the firm at the proper time.

1 Answer

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Final Answer:

The right that is not a right of a partner is a. Right to associate another person to his share.

Step-by-step explanation:

Partners in a business have specific rights and responsibilities. Let's analyze the options:

a. Right to associate another person to his share: This is not typically a right of a partner. The decision to associate another person with one's share usually involves the consent and agreement of all partners, and it's not an inherent right of an individual partner.

In a partnership, the right to admit another partner is not automatically granted but is determined by the terms established in the partnership agreement.

Partnerships often operate based on a formal written agreement that outlines the rights, responsibilities, and procedures for various aspects of the partnership, including the admission of new partners.

The partnership agreement serves as a contractual document that governs the internal workings of the partnership. It typically addresses matters such as profit-sharing, decision-making, and admission or removal of partners.

The decision to admit a new partner is crucial, as it involves considerations such as financial contributions, skills, and compatibility with the existing partners. Therefore, the partnership agreement provides a framework for evaluating and approving new partners.

It is important for partners to adhere to the agreed-upon procedures to maintain transparency and avoid conflicts within the partnership.

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