Fact Pattern 37-1BBrad, Carlos, and Dora are general partners in Eastside Physicians, a medical clinic. Their agreement states 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 37-1B. Brad, Carlos, and Dora decide to admit Faisal as a new partner in Eastside Physicians. Faisal's liability for partnership debts incurred before his admission is
A. limited to his capital contribution to the firm.
B. limited to his personal assets.
C. nothing.
D. unlimited.
Answer: A
You might also like to view...
When a foreign entity operates as a direct and integral extension of the U.S. parent, normally, its functional currency is the _________________________
Fill in the blank(s) with correct word
Which of the following résumé types emphasizes skills and capabilities, rather than employers and academic experience?
A) Chronological B) Combination C) Functional D) Traditional E) Online
A product that falls below the fair value zone of a value map is perceived to deliver benefits that are ________ the product's cost
A) greater than B) less than C) equal to D) unrelated to E) diminished by
What number within a group makes for a formation of an organization?
A. 2 or more people B. 3 or more people C. 5 or more people D. 12 or more people