A Retiring Partner Has No Way of Being Discharged from Her

question 56

True/False

A retiring partner has no way of being discharged from her existing liabilities other than by paying them off.

---

Definitions:

Threatening to Sue

Expressing an intention to initiate legal action against someone.

Dodd-Frank Act

A United States federal law that places regulation of the financial industry in the hands of the government, aimed at reducing risks in the financial system.

Consumer Financial Protection Bureau

A U.S. government agency aimed at ensuring consumer protection in the financial sector and enforcing laws related to financial products and services.

Legislative Approval

The formal consent given by a legislative body to enact a proposed piece of legislation into law.