Fact Pattern 27-2 (Questions 18-20 apply)
Brad, Carlos, and Dora are general partners in Eastside Physicians, a medical clinic.
-Refer to Fact Pattern 27-2.Brad,Carlos,and Dora decide to admit Faisal as a new partner in Eastside Physicians.Faisal's liability for partnership debts incurred before his admission is
A) limited to his capital contribution to the firm.
B) limited to his personal assets.
C) nothing.
D) unlimited.

Question

Quizplus · Accepted Answer

Faisal's liability for partnership debts incurred before his admission is limited to his capital contribution to the firm as he is a new partner and not liable for any partnership debts incurred prior to his admission.

Fact Pattern 27-2 (Questions 18-20 Apply)