The Gorni Chambers and Hale Partnership Is Terminated When the Claims

question 95

Multiple Choice

The Gorni Chambers and Hale partnership is terminated when the claims of company creditors exceed partnership assets by $100000. The capital balances for Gorni Chambers and Hale are $70000 $10000 and $0 respectively. The original claims of the creditors were negotiated by Chambers and Hale. Which partner(s) is(are) personally and individually liable for all partnership liabilities?

• A) Gorni
• B) Chambers
• C) Chambers and Hale
• D) Gorni Chambers and Hale

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