If three partners set out a term in their partnership agreement that John would only be responsible for 10 percent of any losses,yet he has to pay 100 percent of a claim because the other partners have no funds,John could seek contributions from the other partners according to the partnership agreement.

Question

Quizplus · Accepted Answer

This is because the partnership agreement includes a provision for John to seek contributions from the other partners, even if he is only responsible for 10 percent of the losses.

If Three Partners Set Out a Term in Their Partnership