A Person Admitted into an Existing Partnership Is Personally Liable

question 26

True/False

A person admitted into an existing partnership is personally liable for all of the obligations of the partnership arising before his admission.

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Definitions:

Observational Study

A type of study where researchers observe subjects in their natural environment without manipulating variables.

Survey

A research method used for collecting data from a predefined group of respondents to gain information and insights on various topics of interest.

Experiment

A scientific procedure undertaken to test a hypothesis, involving manipulation of one or more variables to measure their effect on certain outcomes.

Debate

A formal discussion on a specific topic where opposing arguments are put forward by individuals or teams.