Asked by Viviana Paola on Jun 23, 2024
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An ex-partner can never be liable for partnership debts incurred after he leaves the partnership.
Partnership Debts
Financial obligations that are the responsibility of a business partnership, shared among partners according to the terms of the partnership agreement.
Ex-Partner
Describes a person who was formerly in a romantic or business partnership with someone.
Liability
The legal responsibility or obligation one party has towards another, particularly in the case of negligence or breach of contract.
- Determine the circumstances that result in a partnership being terminated and analyze the consequences of this termination on the financial responsibilities and entitlements of the partners.
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Learning Objectives
- Determine the circumstances that result in a partnership being terminated and analyze the consequences of this termination on the financial responsibilities and entitlements of the partners.
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