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Which of the Following Is True About Contract Liability of General

Question 55

Multiple Choice

Which of the following is true about contract liability of general partners?


A) General partners have limited liability for contracts of the partnership.
B) A third party who sues to recover on a partnership contract or debt need not name all the general partners.
C) Releasing a general partner from a lawsuit does not necessarily release all the other partners.
D) A general partner can seek indemnification from the partnership and from those partners who have not paid their share of the loss.

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