Question: Question 5 ( 1 point ) Devon and Keith opened a restaurant as a partnership. Two years later, Keith left the restaurant, and Devon discovered

Question 5(1 point)
Devon and Keith opened a restaurant as a partnership. Two years later, Keith left the restaurant, and Devon discovered that Keith had charged numerous expenses to their account. These expenses resulted in thousands of dollars worth of debt for the restaurant. What option does Devon have in this situation?
Business creditors will pursue Keith alone, since his signature authorized payments.
He doesn't have to worry because, according to the law, everyone is responsible for his/her own debts.
Business creditors will expect Devon to pay at least half the debt, since he owns 50 percent of the business.
He can't do anything; business creditors will expect full payment from him.
 Question 5(1 point) Devon and Keith opened a restaurant as a

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!