Ask Question
18 May, 15:48

James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for his father in the partnership and was well qualified to do the work his father had done. Which statement best describes Frank's rights in the partnership if he inherits the interest?

a. Frank has no rights to his father's partnership interest.

b. Frank is entitled to the value in the partnership, but not to become a full partner.

c. Frank may become a partner only if his father's will specified such action.

d. Frank has a right to take over for his father in the partnership.

+4
Answers (1)
  1. 18 May, 18:44
    0
    B - Frank is entitled to the value in the partnership, but not to become a full partner.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for his father in the partnership and was ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers