In a Partnership, Partners Are Not Liable for Debts of Other Partners If

question 140

Short Answer

In a partnership,
partners are not liable for debts of other partners if there is no partnership agreement.
each partner pays only his or her share of the liability even if one partner runs out of money before that partner's share is paid.
a partner is not responsible for debts if another partner created the liability through some action that violated the partnership agreement.
each partner is responsible for the debts even if the debt was the result of the actions of only one partner.
each partner is responsible only for the debts he or she incurred.

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Definitions:

Interpersonal Therapy Group

A form of psychotherapy that focuses on improving interpersonal relationships and communication patterns to help resolve mood disorders and other issues.

End Of The Group

The completion or termination phase of a group's lifecycle, characterized by reflection, evaluation, and possibly planning for future endeavors.

Resolution Of Feelings

The process of working through and finding closure for emotional conflicts, leading to personal growth and decreased emotional distress.