If a partnership does not have adequate assets to fully dismiss creditors, the unsatisﬁed creditors must look to the personal assets of:

Question

Quizplus · Accepted Answer

In a partnership, each partner is personally and jointly liable for the debts and obligations of the business. If the partnership does not have enough assets to pay off all its creditors, those creditors can seek payment from the personal assets of each individual partner. Therefore, option C, which specifies that the unsatisfied creditors must look to the individual partners' personal assets, is the correct answer. The other options are not accurate as they do not take into account the joint and several liability of all partners in a partnership.

If a Partnership Does Not Have Adequate Assets to Fully