The partnership of Clapton, Seidel, and Thomas is insolvent and will be unable to pay $30,000 in liabilities that are currently due.What recourse is available to the partnership's creditors?
A) They must present equal claims to the three partners as individuals.
B) They must try to obtain payment from the partner with the largest capital account balance.
C) They cannot seek remuneration from the partners as individuals.
D) They may seek remuneration from any partner they choose.
E) They must present their claims to the three partners in descending order based on the partners' capital account balances.

Question

Quizplus · Accepted Answer

In a partnership, creditors can seek payment from any partner because partners have joint and several liability for the debts of the partnership.

The Partnership of Clapton, Seidel, and Thomas Is Insolvent and Will