What happens if a partner becomes bankrupt? Group of answer choices An individual cannot be a partner
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Question:
What happens if a partner becomes bankrupt?
Group of answer choices
An individual cannot be a partner while bankrupt. Bankruptcy might even end the partnership in the absence of a partnership agreement
If a partner is bankrupted, the other partners will be held liable to the creditors of that bankrupt
A bankrupt partner can continue to be a partner but cannot manage the partnership
A bankrupt partner is not permitted to make contracts on behalf of the partnership while they are bankrupt
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International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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