Fact Pattern 16-2
Bryn,Cornell,and Duke are general partners in Equity Lending,a consumer credit,mortgage,and investment firm.Their agreement states that it is a breach of the agreement for any partner to assign his or her interest to a creditor without the consent of the other partners.
-Refer to Fact Pattern 16-2.Bryn,Cornell,and Duke decide to admit Giselle as a new partner in Equity Lending.Giselle's liability for partnership debts incurred before her admission is

Question

Fact Pattern 16-2
Bryn,Cornell,and Duke are general partners in Equity Lending,a consumer credit,mortgage,and investment firm.Their agreement states that it is a breach of the agreement for any partner to assign his or her interest to a creditor without the consent of the other partners.
-Refer to Fact Pattern 16-2.Bryn,Cornell,and Duke decide to admit Giselle as a new partner in Equity Lending.Giselle's liability for partnership debts incurred before her admission is​

Quizplus · Accepted Answer

Giselle's liability for partnership debts incurred before her admission is limited to her capital contribution to the firm, as she is not responsible for the debts incurred before she became a partner. The fact that the partners' agreement requires consent for assignment of partnership interest to a creditor does not affect Giselle's liability for existing partnership debts.

Fact Pattern 16-2 Bryn,Cornell,and Duke Are General Partners in Equity Lending,a Consumer Credit,mortgage,and