In the Context of a Partnership, 'Joint and Several Liability

question 4

Multiple Choice

In the context of a partnership, 'joint and several liability' means that:

• A) The partners can only be sued separately if action against the firm fails.
• B) The partners can be sued collectively in the name of the firm or individually in their own name.
• C) Any legal action must name the firm and each partner individually.
• D) All of the above.

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Definitions:

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