You have been given the following fact pattern by Stephanie Wilton, one of the senior partners in your law firm. The firm represents Allan Wright. Three months ago, Allan’s neighbor, Katherine Olsen, transferred (by written agreement) all of her interest in a general partnership to Allan. Allan paid a significant amount of money to Katherine for this transfer. The partnership, TechTronics Company, was organized in our state and had four original members, including Katherine. Although the partnership has a written agreement, it is silent on a number of issues, including the rights of transferees of partnership interests. Allan attended a partnership meeting last week and was startled to be told by the managing partner, “You have no rights to attend meetings or manage this partnership. Your only rights are to receive Katherine’s share of profits.” Ms. Wilton would like you to prepare an opinion letter (for her signature) to Allan, explaining what his rights are in TechTronics. By way of background, the Uniform Partnership Act includes provisions relating to transfers of partnership interests. The Uniform Partnership Act is part of the Uniform Business Organizations Code (see Article 3). Our state has adopted the Uniform Business Organizations Code in its entirety. The Code is available on the website of the National Conference of Commissioners on Uniform State Laws at http://www.uniformlaws.org. Assume there are no cases interpreting the applicable provisions of the Act.
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