Partner A took out a loan on behalf of the partnership that is not secured by collateral.

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Partner A took out a loan on behalf of the partnership that is not secured by collateral. Partner A was the only signer. There are 3 partners. The loan was in the amount of $150,000. What is the share of liability for each partner?

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Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: Dec 19, 2023 01:25 AM

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Partner A took out a loan on behalf of the partnership that is not secured by collateral.

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In a general partnership each partner is personally responsible for the partnerships debts and liabi... View the full answer

Smith and Roberson Business Law

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