Solved

Mason Is a Partner in the Millennium Partners Group

Question 54

Multiple Choice

Mason is a partner in the Millennium Partners group. Maserati Imports, a local car dealership is trying to impound Mason's car for lack of payment. Since Maserati Imports cannot find Mason's car, they reposes the Millennium Partners' company car instead. Is this action legal?


A) Yes, a creditor may take any piece of a partnerships property to satisfy a debt.
B) Yes, a creditor may do so, but only after giving all partners at least 60 days advance notice.
C) Yes, a creditor may do so only after giving all partners at least 30 days advance notice.
D) Yes, a creditor may seize specific items of partnership property only if the items are found on the partnership's business property.
E) No, a creditor may not seize specific items of partnership property to satisfy a personal debt of a partner.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents