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Can a partner be expelled if so how what are the rights and liabilities of an expelled partner?
Wiki User
∙ 12y ago
Yes, a partner can be expelled from a partnership under certain circumstances, typically outlined in the partnership agreement. The process for expulsion usually involves a vote by the remaining partners. Rights and liabilities of an expelled partner will depend on the specific terms outlined in the partnership agreement, but generally, the expelled partner may have the right to buyout their interest or may be entitled to receive their share of the partnership's assets. However, they may also be liable for any outstanding partnership debts or obligations.
Wiki User
∙ 12y agoYes. A partner can be expelled (called dissocation under the Uniform Partnership Act or Uniform Limited Partnership Act) for (1) doing something unlawful or against the best interests of the partnership; or (2) a violation of the partnership agreement. The partner continues to be liable for his or her acts or omissions that occured before dissociation, or for proximately-occuring consequences thereafter, and may have rights to a distribution of a partnership share at winding up of the partnership.
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