Which of the Following Is True of the Liability to Creditors

question 27

Multiple Choice

Which of the following is true of the liability to creditors in the process of continuation of partnership beyond an agreed-on term?

• A) Withdrawing partners are liable for new obligations though they have given a notice of withdrawal.
• B) New partners are liable for prior obligations only to extent of contribution unless they agree to greater liability.
• C) Continuing partners are the only people liable for prior obligations.
• D) Withdrawing partners are liable for prior obligations even though they are released by novation.

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Definitions:

Sacral Segments

Portions of the spinal cord that correspond to the sacral part of the vertebral column, which is crucial for transmitting nerve signals to and from the lower parts of the body.

Inhibitory Action Potentials

Electrical signals in neurons that decrease the likelihood of the neuron firing, thus reducing neuronal activity.

Sacral Region

The area of the body related to the sacrum, a triangular bone at the base of the spine formed by the fusion of five sacral vertebrae.

Myogenic Mechanism

A physiological mechanism by which blood vessels automatically adjust their resistance to maintain constant blood flow despite changes in arterial blood pressure.