The Partnership Form of Business Organization Should Be Entered into with Caution

The partnership form of business organization should be entered into with caution because

A) the firm will be bound to perform any contract entered into by a partner with third parties.
B) a third party may claim damages against the partnership for injury incurred as the result of any tort committed by a partner.
C) partners may leave the firm to avoid debts or claims against the partnership.
D) the admission of a new partner to the firm does not automatically render the new partner liable for the existing debts of the partnership.
E) All of the responses are correct.