The partners can change the terms of their responsibilities to each other in the partnership agreement,but not in relationship to their obligations to third parties.

Question

Quizplus · Accepted Answer

The partnership agreement can define the partnership's internal workings, including the division of profits and responsibilities. However, the partnership's obligations to third parties, such as creditors or customers, are governed by external laws and cannot be altered by the partnership agreement.

The Partners Can Change the Terms of Their Responsibilities to Each