Explain the nature of the liability of partners and the effect of a partnership agreement on a

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Explain the nature of the liability of partners and the effect of a partnership agreement on a partner’s liability to outsiders. How will the retirement of a partner affect those obligations?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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