Murray 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?

Question

Quizplus · Accepted Answer

Frank is entitled to the financial value of his father's interest in the partnership, but he does not automatically have the right to become a partner, as partnerships require the consent of the remaining partners for new members.

Murray Was a Partner in a Large Firm