Stuart Waterstone Forum Index Stuart Waterstone

 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Assignment due 3/9/17

 
Post new topic   Reply to topic    Stuart Waterstone Forum Index -> Notes
View previous topic :: View next topic  
Author Message
Waterstone
Site Admin


Joined: 31 Jan 2005
Posts: 171

PostPosted: Fri Mar 03, 2017 10:33 am    Post subject: Assignment due 3/9/17 Reply with quote

Apex Petroleum Corporation (Apex) was the general partner of a limited partnership. The partnership agreement provided: It could be amended by a vote of 70% of the limited partnership units. Over 70% of these units voted to amend the partnership agreement to provide that a vote of 70% of the limited partnership units could remove the general partner and replace it with another general partner. Prior to this amendment, there was no provision for removal and substitution of a general partner. Texas law requires a unanimous approval of new partners unless the partnership agreement provides otherwise. When a vote was held, over 70% of the limited partnership units voted to remove Apex as the general partner and replace it with the WCQ Company Apex challenged this removal. Who wins?
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Stuart Waterstone Forum Index -> Notes All times are GMT - 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group