Which of the Following Is True About the Liability of a Dissociated

question 79

Multiple Choice

Which of the following is true about the liability of a dissociated partner for obligations incurred while a partner?

• A)To complete the requirements for novation,a dissociated partner must also secure his release by the partnership's creditors.
• B)Dissociated partners are not liable to partnership creditors for partnership liabilities incurred while they were partners.
• C)Continuing partners must not indemnify dissociated partners from liability on partnership obligations.
• D)A creditor's agreement to release an outgoing partner from liability may be implied,but usually it is express.

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Definitions:

Limestone Pillars

Natural columns made of limestone, often formed in karst landscapes through the process of dissolution.

Sinkholes

Depressions or holes in the ground caused by the collapse of a surface layer, often resulting from the dissolution of limestone beneath.

Saltwater Intrusion

The movement of saline water into freshwater aquifers, which can occur due to groundwater extraction or changes in sea level, often leading to the contamination of drinking water sources.

Overpumped

Refers to the excessive extraction of groundwater or other resources, leading to depletion or environmental degradation.