Oliana is a partner in Pacific Traders.In the majority of states,with respect to any partnership obligations that Oliana does not participate in,know about,or ratify,Oliana 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 general partnership, partners are jointly and severally liable for all partnership obligations, regardless of their individual participation, knowledge, or ratification of those obligations. This means that if the partnership is unable to satisfy a debt or obligation, any or all partners may be held responsible for paying the full amount. Therefore, Oliana would be liable for all partnership obligations, jointly and severally, even if she did not participate in, know about, or ratify them.

Oliana Is a Partner in Pacific Traders