A partner's inability to meet his or her obligations at the time of liquidation does not relieve that individual of his or her liabilities to the other partners.

Question

Quizplus · Accepted Answer

Each partner in a partnership is personally liable for the obligations of the partnership, and a partner's inability to meet those obligations does not relieve him or her of that liability. All partners are responsible for the partnership's debts and obligations, regardless of which partner incurred them or failed to meet them.

A Partner's Inability to Meet His or Her Obligations at the Time