Author Question: Explain the dissolution of a partnership on the basis of futility.[br][br][b][color=#7BCCB5]Question ... (Read 85 times)

ericka1 · **on:** Jun 24, 2018

Explain the dissolution of a partnership on the basis of futility.

Question 2

The Equal Pay Act's coverage is similar to that of the Fair Labor Standards Act.
Indicate whether the statement is true or false

mcarey591 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

If a business partnership clearly cannot achieve a profit, a court may decree dissolution. One partner cannot compel the other members to assume continued losses after the success of the business becomes highly improbable, and further operation appears futile. However, a temporarily unprofitable operation does not justify dissolution. A court will issue a decree of dissolution only when the objective reasonably appears impossible to attain.

Answer to Question 2

TRUE