Final answer:
Yes, under the Uniform Partnership Act, a partner can sue the partnership or another partner for breaches or harmful actions. Limited liability partnerships offer protection for personal assets, but all partners may still be held accountable for each other's acts.
Step-by-step explanation:
Under the Uniform Partnership Act (UPA), a partner can indeed sue the partnership or another partner. This situation may arise when there has been a breach of the partnership agreement or when a partner's actions have caused harm to the partnership.
It is essential to know that in a typical partnership, partners are responsible for each other's acts. If one partner commits a wrongful act, other partners might find themselves liable for that partner’s actions.
In the case of a limited liability partnership, the individual partner's liability is generally limited to their investment in the company, and their personal assets are protected.
However, the partnership does have some structural disadvantages, like the automatic dissolution of the business in certain circumstances, such as the departure or death of a partner.
In such cases, although the business name may remain the same, the actual business entity changes with the addition or subtraction of partners.