Regarding partnership property:
A) only a managing partner has the right to use firm property for firm business.
B) where a three-person partnership owns three autos, each partner owns one of the autos individually.
C) on the death of a partner, that partner's share of partnership property vests in his or her next of kin.
D) a creditor of a partner cannot proceed against any specific items of partnership property.

Question

Quizplus · Accepted Answer

Partnership property is considered as an indivisible asset of the partnership and a creditor of a partner can only proceed against the partner's interest in the partnership and not against any specific item of partnership property.

Regarding Partnership Property