Question

A partner assigned his partnership interest to a third party. Which statement best describes the legal ramifications to the assignee?

A) The assignment of the partnership interest does not entitle the assignee to partnership assets upon a liquidation.

B) The assignment dissolves the partnership.

C) The assignee has the right to share in the management of the partnership.

D) The assignee does not become a partner but has the right to share in future partnership profits and to receive the proper share of partnership assets upon liquidation.

Answer

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