Chance, Justina, and Rich have been operating a chain of self-service laundries as a general partnership for three years. At the beginning of the fourth year, Justina declares bankruptcy. Under the version of the Uniform Partnership Act (UPA) that is in effect in most states, Justina's bankruptcy will:

Question

Social Studies

Frida Contreras

23 March, 03:47

Chance, Justina, and Rich have been operating a chain of self-service laundries as a general partnership for three years. At the beginning of the fourth year, Justina declares bankruptcy. Under the version of the Uniform Partnership Act (UPA) that is in effect in most states, Justina's bankruptcy will:

+2

Answers (1)

Know the Answer?

Joe Harvey · Answer 1

Cause Justina's dissociation from the party

Explanation:

The Uniform Partnership Act (UPA) provides governance for business partnerships in several U. S. states. The UPA also offers regulations governing the dissolution of a partnership when a partner dissociates. The UPA provides rules regarding partnership formation, fiduciary duties, and the ownership of partnership assets.