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Answer the Following: A. Does a New Partner in a Firm Have Unlimited

question 6

Essay

Answer the following:
a. Does a new partner in a firm have unlimited liability for debts existing when he joined the firm?
b. What should a prospective partner do to avoid unreasonable liability? Explain.


Definitions:

Muhammad of Ghor

A ruler from Ghor, Afghanistan, who played a significant role in the establishment of Muslim rule in India in the 12th century.

Emerald Buddha

A revered jade statue of the sitting Buddha, considered the palladium of Thailand, housed in Bangkok's Wat Phra Kaew.

Secular Authority

Secular Authority refers to the organization and exercise of power outside of religious institutions, typically involving the governance and administration of civil affairs.

Religious Authority

The power or right to govern and enact laws or standards within a particular religion, often held by leaders or sacred texts.

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