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When the manner of management has not been agreed upon who shall manage the affairs of the partnership?

a. Capitalist partners
b. Industrial partners
c. Capitalist-industrialist partners
d. All of the partners
e. None of the above

asked
User Fisker
by
8.7k points

1 Answer

6 votes

Final answer:

In the absence of a management agreement in a partnership, all of the partners are entitled to participate in partnership management decisions. Each partner usually has an equal vote, with majority rules applying, unless it concerns significant matters like changes in partnership nature, where unanimity is required.

Step-by-step explanation:

When the manner of management has not been agreed upon in a partnership, according to most partnership laws, all of the partners have the right to participate in the management of the partnership affairs. This is generally outlined in the Uniform Partnership Act (UPA) or the Revised Uniform Partnership Act (RUPA) depending on jurisdiction, although the actual statutes and rules can vary by location. Without a formal agreement stating otherwise, each partner has one vote in management affairs regardless of the proportional size of their contribution, and majority rules in decisions. However, for changes in the nature of the partnership or for admission of a new partner, unanimity is typically required. It is important for partners to understand their rights and obligations as per the partnership agreement and default rules of the jurisdiction in which they operate.

answered
User Kibromhft
by
7.9k points
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