Which of the following is a common characteristic of provincial Partnership Acts?
A) each provides that every partner is liable jointly with co-partners
B) there are subtle differences between joint and several liability
C) each provides that every partner is liable severally from co-partners
D) there are pronounced differences between joint and joint and several liability

Question

Quizplus · Accepted Answer

Partnership Acts typically stipulate that each partner is jointly liable with their co-partners for the debts and obligations of the partnership. This means that creditors can pursue any one of the partners for the full amount of the debt owed by the partnership.

Which of the Following Is a Common Characteristic of Provincial