Solved

Fact Pattern 30-1B (Questions B10-B13 Apply)

Question 5

Multiple Choice

Fact Pattern 30-1B (Questions B10-B13 apply)
Bryn,Cornell,and Duke are general partners in Equity Lending,a consumer credit,mortgage,and investment firm.Their agreement states that it is a breach of the agreement for any partner to assign his or her interest to a creditor without the consent of the other partners.
-Refer to Fact Pattern 30-1B.Bryn,Cornell,and Duke decide to admit Giselle as a new partner in Equity Lending.Giselle's liability for partnership debts incurred before her admission is


A) limited to her capital contribution to the firm.
B) limited to her personal assets.
C) nothing.
D) unlimited.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions