Match each of the following terms with the appropriate definitions.
-The legal relationship among general partners that makes each of them personally responsible for paying the debts of the partnership if the partnership cannot pay.

Question

Quizplus · Accepted Answer

Unlimited liability of partners refers to the legal responsibility that general partners in a partnership have, making them personally liable for the debts of the partnership if it cannot pay. This means each partner can be held responsible for the full amount of any debts, not just a portion corresponding to their share of ownership.

Match Each of the Following Terms with the Appropriate Definitions