The Partnership Form of Business Organization Should Be Entered into with Caution

The partnership form of business organization should be entered into with caution because:

A) the firm will be bound to perform any contract entered into by a partner with third parties
B) a third party may claim damages against the partnership for injury incurred as the result of any tort committed by a partner
C) partners may leave the firm to avoid debts or claims against the partnership
D) the admission of a new partner to the firm does not automatically render the new partner liable for the existing debts of the partnership