If a partner is unable to cover a deficiency and the other partners absorb the deficiency,then that partner is thus relieved of all liability.

Name: If a partner is unable to cover a deficiency and the other partners absorb the deficiency,then that partner is thus relieved of all liability.
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Question

Quizplus · Accepted Answer

When other partners absorb the deficiency, the partner is not automatically relieved of all liability. The partnership agreement and state laws will determine the extent of the partner's liability.

If a Partner Is Unable to Cover a Deficiency and the Other