Nicholas and Holly are partners in a toymaking shop.If Rudolph obtains a judgment against Nicholas for injuring Rudolph while Nicholas was on partnership business,Rudolph must try to collect from the partnership before going after Nicholas's personal assets.

Question

Quizplus · Accepted Answer

In a general partnership, partners are jointly and severally liable for partnership obligations. This means that Rudolph can first try to collect from the partnership assets before going after Nicholas's personal assets. However, if the partnership assets are insufficient to satisfy the judgment, Rudolph can then pursue Nicholas's personal assets to collect the remaining amount owed.

Nicholas and Holly Are Partners in a Toymaking Shop