Question

Brad is a general partner, and Carlos and Dora are limited partners, in Eastside Physicians, a medical clinic and limited partnership. Brad's dissociation from the firm results in?

1) nothing with respect to Eastside's existence.
2) the maturity of Eastside's debts.
3) the suspension of Eastside's business.
4) the termination of Eastside's legal existence.

Answer 1

Brad's dissociation as a general partner from Eastside Physicians would result in 4) the termination of Eastside's legal existence.

Step-by-step explanation:

Brad's dissociation as a general partner from Eastside Physicians, a limited partnership, would result in the termination of Eastside's legal existence.

In a limited partnership, the general partner has significant managerial control and unlimited personal liability, while the limited partners have limited liability.

When a general partner dissociates from the partnership, it typically leads to the termination of the partnership, as the general partner plays a crucial role in the organization and the decision-making process.