Practice question
A partnership’s partner dies, materially interrupting business and dissolving the partnership, with no contrary articles provision. Which Section27 consequence is specified?
- Automatic license revocation and reporting by the surviving partners within ten days
- Automatic inheritance of an unrestricted license by every child
- No consequence can ever follow partner death
- The license transfers to the auctioneer
- Only the deceased’s personal insurance changes
Legal references
- DMW DC01 series2023 landbased Rules: https://dmw.gov.ph/archives/v1/resources/dsms/DMW/ISN-EXT/2023/DMW-DC-01-2023.pdf Sections26–33, printed pages10–11.
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