An individual who joins an existing partnership has no liability for partnership debts that arose prior to his joining the partnership.

Name: An individual who joins an existing partnership has no liability for partnership debts that arose prior to his joining the partnership.
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Question

Quizplus · Accepted Answer

This is true under the principle of limited liability. The new partner would only be liable for partnership debts incurred after they joined the partnership.

An Individual Who Joins an Existing Partnership Has No Liability