Unformatted text preview: signee to become a substituted limited partner with the consent of the remaining partners. The assignment, however, does not dissolve the limited partnership. 2 Bankruptcy of the limited partnership itself causes dissolution, but bankruptcy of one of the limited partners does not dissolve the partnership unless it causes the bankruptcy of the firm. 3 The retirement, death, or insanity of a general partner dissolves the partner-ship unless the business can be continued by the remaining general partners. Because Dorinda was the only general partner, her death dissolves the limited partnership....
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- Spring '11
- Business Law, Corporation, Types of business entity, Sample answer