An Individual Who Joins an Existing Partnership Has No Liability

question 48

True/False

An individual who joins an existing partnership has no liability for partnership debts that arose prior to his joining the partnership.

---

Definitions:

Expectancy

The belief or anticipation about the likelihood of achieving a desired result or outcome.

Proximal Goals

Short-term, achievable objectives set as steps towards a larger goal, helping to maintain motivation and focus.

Distal Goals

Long-term objectives or aims that are not immediately achievable but are pursued over an extended period.

Learning Goals

Objectives set by an individual or organization aimed at acquiring knowledge or skill through study or experience.