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John and Rebecca, on July 13, 2016, each bone 25% of a partnership called ABC. Rebecca...

John and Rebecca, on July 13, 2016, each bone 25% of a partnership called ABC. Rebecca cells her interest to Joe, who is a 50% partner. On July 14, 2017, John sells his interest to Joe. When does the partnership terminate?

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Answer: A partnership must include atleast two parties. A single person cannot form a partnership.

There were three partners at beginning John, Rebecca and Joe. When Rebecca sells her interest to Joe, then there are two partners left in partnership John and Joe. Thereafter, John sells his interest to Joe as on July 14, 2017, then there is only one partner left Joe. Since, a single person cannot form termed as partnership. Hence, the partnership terminate on July 14, 2017.

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