Fay is admitted to Global Associates, an existing partnership. A partnership debt incurred before the date of her admission comes due. Fay is
A) not liable for the debt.
B) only liable for the debt up to the amount of his capital contribution.
C) personally liable only to the extent the other partners do not pay.
D) personally liable to the full extent of the debt.

Question

Quizplus · Accepted Answer

The Answer of Fay is admitted to Global Associates, an existing partnership. A partnership debt incurred before the date of her admission comes due. Fay is
A) not liable for the debt.
B) only liable for the debt up to the amount of his capital contribution.
C) personally liable only to the extent the other partners do not pay.
D) personally liable to the full extent of the debt.

Fay Is Admitted to Global Associates, an Existing Partnership