In Most States, a General Partner Is Jointly and Severally

question 52

True/False

In most states, a general partner is jointly and severally liable for all partnership obligations.

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Definitions:

Id

In psychoanalytic theory, the part of the personality responsible for basic drives and instincts.

Ego

In Freud’s theory, a set of reactions that try to reconcile the id’s blind pleasure strivings with the demands of reality.

Primitive Part

A fundamental component that is basic or not developed in complexity.

Human Personality

The combination of characteristics or qualities that form an individual's distinctive character.