Sarah is a partner in a partnership that carries on an engineering consulting business. She will retire
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Sarah is a partner in a partnership that carries on an engineering consulting business. She will retire on January 1. Does she need to worry about any liabilities incurred by the partnership after she retires? Is there anything that she can do to manage her risk?
PartnershipA 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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After Sarah retires she will continue to be liable for any obligations of the firm incurred prior to ...View the full answer
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Related Book For 
Managing the Law The Legal Aspects of Doing Business
ISBN: 978-0132164429
4th edition
Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer
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