Partners are liable for damages caused by their negligence regardless if the negligence was cause by an honest error in judgment.

Question

Quizplus · Accepted Answer

This is a correct statement about the liability of partners. Partners are jointly and severally liable for any damages caused by the negligence of any partner, even if the negligence was an honest error in judgment. This means that each partner is personally responsible for the entire amount of damages, not just their share of the partnership assets.

Partners Are Liable for Damages Caused by Their Negligence Regardless