Olivia is a partner in Pacific Trade. In the majority of states, with respect to any partnership obligations that Olivia does not participate in, know about, or ratify, she would be liable for
A)none of the obligations.
B)all of the obligations, jointly and severally.
C)all of the obligations, jointly but not severally.
D)only the contractual obligations.

Question

Quizplus · Accepted Answer

In a partnership, each partner is liable for the obligations of the partnership. This means Olivia would be liable for all of the obligations, jointly and severally, even if she did not participate in, know about, or ratify those obligations. This is a fundamental principle of partnership law, where partners share liability for the actions of the partnership.

Olivia Is a Partner in Pacific Trade