Landrum voluntarily assigns his transferable interest in a partnership to McClendon. This act does not by itself result in the dissolution of the partnership, nor does it result in McClendon's being entitled to participate in the management of the partnership business.

Question

Quizplus · Accepted Answer

Assigning a transferable interest in a partnership does not dissolve the partnership nor does it grant the assignee rights to participate in the management or affairs of the partnership; it merely transfers the assignor's share of the profits and losses and the right to receive distributions.

Landrum Voluntarily Assigns His Transferable Interest in a Partnership to McClendon