Bob and Lucy started a general partnership called The Koffee Kamp. Bob and Lucy each have personal assets exceeding $200,000 in value; however, Bob only invested $4,000 and Lucy invested $10,000 in the business. If the partnership cannot pay its bills totaling $60,000 and is sued, then the MOST Bob could lose is ?

Answer rating: 100% (QA)

In a general partnership each partner is personally liable for the debts and oblig... View the full answer