What type of interest does jason have in high end haute


Problem: Shelly Star, Lucy Connolly, and Jennifer McDonald formed a general partnership three years ago to own and operate a boutique-clothing store, High End Haute, GP. They had a lawyer draft a partnership agreement that all three executed and each holds a 1/3rd interest in the partnership. Last month, Lucy took a job as an executive with a local company and decided she did not have time to be involved in High End Haute anymore so she sold her partnership interest to a mutual friend, Jason Palmer. She sent Shelly and Jennifer an email telling them that she had sold her interest to Jason. She told them Jason was excited to be a new partner in the business and wished them all the best of luck. What type of interest does Jason have in High End Haute?

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