Question

Commercial Credit & Finance is a limited partner-ship. Derry, Eleni, and Frey are the general partners. Derry dies. The partnership can​ Select one:

a. ​continue only if Eleni and Frey consent.
b. ​continue only after a distribution of its assets.
c. ​not continue because Derry's death dissolves the firm.
d. ​continue only as a general partnership.

Answer 1

a. ​continue only if Eleni and Frey consent

Step-by-step explanation:

A General Partner within a limited partnership organization manages the business and has unlimited personal liability for the debts and obligations of that firm/organization. Therefore if there are more than one then all decisions must be made in unison because it affects each member personally. So in this scenario if Derry Dies the partnership can continue only if Eleni and Frey both consent.