A Partner Admitted as a Partner into an Existing Partnership

question 49

True/False

A partner admitted as a partner into an existing partnership has unlimited liability for all obligations of the partnership arising before such admission.

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Definitions:

Systematic Desensitization

A behavioral therapy technique used to help individuals overcome phobias and anxiety disorders through gradual exposure to the feared object or situation.

Flooding

In behavior therapy, a form of exposure treatment in which the client is taken directly into a feared situation until his or her panic subsides.

Counterconditioning

A behavior therapy technique where a positive response is conditioned to replace a negative or undesirable response to a stimulus.

Unconditional Positive Regard

A concept in client-centered therapy proposing that therapists should accept and support their clients without judgment.