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A partnership has no partnership agreement. It is sued for negligence and the assets are not sufficient to pay the judgment. How do the two
A partnership has no partnership agreement. It is sued for negligence and the assets are not sufficient to pay the judgment. How do the two partners share the loss?
a.) Partners are not personally liable for partnership losses.
b.) Each partner is responsible for half the loss, up to the amount invested.
c.) Each partner is responsible for half the loss.
d.) Only the partner that performed the negligent act is responsible for the loss.
e.) Neither partner is responsible for the loss because there was no partnership agreement to allocate it.
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