Solved

With Regard to the Liability of Partners,which of the Following

Question 23

Multiple Choice

With regard to the liability of partners,which of the following is true?


A) A general partner who retires from the partnership by giving notice of his leaving to the other partners could still be found liable for debt pursuant to a contract made when he was a partner.
B) A limited partner has unlimited liability beyond the amount of his initial investment.
C) A general partner has limited liability for any loss suffered because of the negligent act (e.g.,omission) of one of his partners.
D) A general partner could not be liable for losses suffered by a client because of misapplication of funds unless he knew about or took part in the misapplication.
E) The partnership,and thus the partners,are liable for any loss suffered because of a tort committed by its employee outside the course of his employment.

Correct Answer:

verifed

Verified

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

Related Questions