When Continuing Partners Agree to Relieve the Withdrawing Partners of Liability

question 4

Multiple Choice

When continuing partners agree to relieve the withdrawing partners of liability on the debts of the old partnership, the act of novation can take place, which involves an agreement by the creditor:

• A) with both the withdrawing partners and the continuing partners.
• B) with the withdrawing partners themselves and not their representatives.
• C) only with the continuing partners.
• D) with the new partners replacing the withdrawing partners to hold them liable for the debts.

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Definitions:

Job Autonomy

The freedom and independence to make decisions and control one's work processes and environment without excessive supervision.

Group Bonus

A reward given to a team or group of employees for achieving significant goals or completing a project successfully.

Mutual Support

The provision of assistance, encouragement, and comfort between members of a group, leading to a stronger collective.

Room To Grow

Opportunities or space for development and improvement in a certain area.