Question

Is a new partner liable for debts incurred before he become a partner?

Answer 1

Answer:

heyy

Explanation:

A person who joins a partnership will not be liable for the debts it built up before they joined, unless an agreement is made that says something different. A person who leaves a partnership will still be liable for the firm's debts that were built up before they left

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Answer 2

Answer:

Hey

Rights and Liabilities of a New Partner

All liabilities of a new partner commence from the date of his admission as a partner in the firm. This is unless he accepts liability for the obligations incurred by the firm before his admission.

In a general partnership, each partner has unlimited personal liability. Partnership rules usually dictate that whatever debts are incurred by the business, it is the legal responsibility of all partners to pay them off

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