The Partnership Act allows partners to change their liabilities and obligations to third parties.

Question

Quizplus · Accepted Answer

The Partnership Act generally does not allow partners to change their liabilities and obligations to third parties without the consent of those third parties. Partners are jointly and severally liable for the debts and obligations of the partnership to third parties, and any changes to these liabilities typically require agreement from all affected parties.

The Partnership Act Allows Partners to Change Their Liabilities and Obligations