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.
-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

Quizplus · Accepted Answer

Giselle's liability for partnership debts incurred before her admission is limited to her capital contribution to the firm as she was not a partner at the time the debts were incurred. This is the general rule under partnership law. However, it's important to note that Giselle would have unlimited liability for partnership debts incurred after her admission, just like the other partners.

Bryn,Cornell,and Duke Are General Partners in Equity Lending,a Consumer Credit,mortgage,and