Across
- 2. One partner delegated to see to the management of the partnership.
- 3. Filed for public record by partner or interested parties to contradict the statement of authority.
- 4. Individual responsible for the sales and distribution of assets and debt settlements in a partnership undergoing the process of liquidation.
- 5. A form of ownership under the UPA where all partners are co-owners with equal right to posses the property of the partnership, without right to possess the property for any other purpose other than for partnership purpose.
- 6. Finishing current business, settle accounts, and turn property into cash to end the business and split assets.
- 7. A document known as the contract entered into by all partners setting forth the agreed upon terms of the partnership.
- 9. Approved in 1914, designed to codify existing statutory and common law, and recommend it for adoption by all state legislatures.
- 11. Individual responsible for the sales and distribution of assets and debt settlements in a partnership undergoing the process of liquidation.
- 13. When the issue of debt arises, the creditor may sue the partners as a whole, or individually.
- 14. An association of two or more persons to carry on as co-owners a business for profit
Down
- 1. Organization that along with the American Law Institute, proposes various Model Acts and Uniform Acts for adaptation by the states.
- 4. The termination of corporation, partnership, or other business entity’s existence.
- 8. A typical partnership in which all partners are general partners.
- 10. Partnership formed for an indefinite amount of time, without designated ending date.
- 12. When a partner withdraws or ceases to be associated in the carrying on of the partnership business.