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Question
Leonard, Ted, and Julius are partners at Jutle Associates. They signed a two year lease agreement with Property Company for business purposes. Five months into the new agreement, Leonard dissociates from the partnership. Under what circumstances will Leonard no longer be liable on the lease agreement?
A. Leonard gives proper notice to Property Company of his intent to dissociate from Jutle.
B. The three partners and Property Company enter into an appropriate novation agreement.
C. Leonard filed a Statement of Dissociation more than 90 days prior to leaving the partnership.
D. Property Company will not serve to relieve Leonard of liability under the lease agreement.
Answer
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