The Unlimited Liability of Partners Means That Not Only Can

question 27

True/False

The unlimited liability of partners means that not only can they lose their entire investment in the business,but their personal assets (such as their homes and cars)are also at risk.

---

Definitions:

Lincoln-Douglas Debates

A series of seven debates in 1858 between Abraham Lincoln and Stephen A. Douglas, focusing largely on the issue of slavery and its expansion into American territories.

American Political History

The study and analysis of political events, ideas, movements, and leaders throughout the history of the United States.

Kansas-Nebraska Act

An 1854 U.S. law that created the territories of Kansas and Nebraska, leaving the decision of slavery to popular sovereignty, which intensified the pre-Civil War sectional conflict.

Whig Party

A political party in the United States that was active between the 1830s and the 1850s, opposing the policies of Andrew Jackson and advocating for federal government support of a more diversified economy.