Gift Shop is operated as a partnership,with five partners.Han has a one-third interest in the firm.Each of the other partners has a one-sixth interest.Ingre is the senior partner.With respect to ordinary management decisions

Question

Quizplus · Accepted Answer

In a partnership, unless the partnership agreement states otherwise, major management decisions require a majority vote. As Han has a one-third interest and the other four partners have a combined two-thirds interest, Han cannot unilaterally make decisions. Ingre's seniority does not give her an overriding decision-making power either. Therefore, a majority of the partners must agree on ordinary management decisions.

Gift Shop Is Operated as a Partnership,with Five Partners