What is the nature of liability of general partners as to partnership debts or obligations? A. the are liable solidarily up to the extent of their separate assets after the partnership asses are exhausted B. they are liable pro-rata up to the extent of their capital contribution only C. they are liable pro-rata to the extent of their separate assets after the partnership assets are exhausted D. the are liable equally up to the extent of their separate assets after the partnership assets are exhausted
What is the nature of liability of general partners as to partnership debts or obligations? A. the are liable solidarily up to the extent of their separate assets after the partnership asses are exhausted B. they are liable pro-rata up to the extent of their capital contribution only C. they are liable pro-rata to the extent of their separate assets after the partnership assets are exhausted D. the are liable equally up to the extent of their separate assets after the partnership assets are exhausted
Chapter21: Partnerships
Section: Chapter Questions
Problem 5BCRQ
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What is the nature of liability of general partners as to
A. the are liable solidarily up to the extent of their separate assets after the partnership asses are exhausted
B. they are liable pro-rata up to the extent of their capital contribution only
C. they are liable pro-rata to the extent of their separate assets after the partnership assets are exhausted
D. the are liable equally up to the extent of their separate assets after the partnership assets are exhausted
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