Posted: July 20th, 2016

When a general partner sells her partnership interests, the purchaser?

Question 1
When goods are defective and the buyer provides the seller with notice, the buyer may recover:
A. consequential damages.
B. incidental damages.
C. the difference between the value of the goods received and the value the goods would have had if they had been as warranted.
D. all of the above.

Question 2
Explain the elements for the creation of an express warranty

Question 3
Generally, it is easier to preserve goodwill in a corporation as owners change than it is in a partnership or sole proprietor ship.
True
False

Question 4
A gratuitous agent is one who:
A. freely substitutes her judgment for that of the principal.
B. acts without pay.
C. requires a generous tip.
D. none of the above

Question 5
A statute of repose:
A. bars the bringing of a tort based product liability suit after a certain number of years.
B. usually gives people one to two years from the date they discover their injury in which to bring suit.
C. neither (a) nor (b).
D. both (a) and (b).

Question 6
When a general partner sells her partnership interests, the purchaser:
A. is granted automatic partnership by operation of law.
B. does not become a partner until he is unanimously accepted by the other partners.
C. is granted partnership only after he divests all interests in other general partnerships.
D. none of the above.
A. is granted automatic partnership by operation of law.
B. does not become a partner until he is unanimously accepted by the other partners.
C. is granted partnership only after he divests all interests in other general partnerships.
D. none of the above.