C is corrent because unless otherwise stipulated in the partnership agreement, an individual partner’s interest in the partnership is freely assignable without the consent of the other partners. However, upon the assignment, the assignee merely obtains the right to receive the assigning partner’s share of the profits and return of capital contribution.
A is incorrect because the assignee of a partnership interest is not substituted as a partner without the consent of all the other partners. Therefore, the assignee does not necessarily succeed to the assignor’s right to participate in management.
B is incorrect because the assignee of a partnership interest is not substituted as a partner without the consent of all other partners. Therefore, the assignee does not succeed to the assignor’s right to inspect the partnership books. The assignee merely obtains the right to receive the assigning partner’s share of the profits and return of capital contribution.
D is incorrect because the assignment of a partnership interest will not result in the dissolution of the partnership unless the assignor also withdraws.
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