Ricardo and Robert operate a hardware store as general partners. - 8142

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  • Posted on: Tue 17 Apr, 2012
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Request Description

Ricardo and Robert operate a hardware store as general partners. Robert is unmarried, while Ricardo is married to Jenna. Ricardo is killed in an accident and his will leaves all his property to Jenna. What happens to Ricardo’s interest in the partnership? 

 

A.   Ricardo’s interest is divided equally between Robert and Jenna.

 

B.   Robert becomes sole owner of the hardware store and owes Jenna nothing

 

C.   Robert becomes sole owner of the hardware store, but owes Jenna the value of Ricardo’s interest in the business.

D.   Jenna inherits Ricardo’s partnership interest and becomes Robert’s partner in running the business.

 
Solution Description

Ricardo and Robert operate a hardware store as general partners. Robert is unmarried, while Ricardo is married to Jenna. Ricardo is killed in an accident and his