Brad and Carolyn are partners in Doctors for Children,a medical clinic. Brad's dissociation from the firm results in
A)the automatic termination of the firm's legal existence.
B)the partnership's buyout of Brad's interest in the firm.
C)the immediate maturity of all partnership debts.
D)the temporary suspension of the partnership's business.

Question

Quizplus · Accepted Answer

Brad's dissociation from the firm means that he is withdrawing from the partnership. In such a situation, the partnership agreement will typically provide for the buyout of Brad's interest in the firm. This allows the remaining partner, Carolyn, to continue running the business without interruption. The other options (A, C, D) are not typically triggered by a partner's dissociation from the partnership.

Brad and Carolyn Are Partners in Doctors for Children,a Medical