Question $9$

Mr$.$ David Harrison and Mr$.$ Kelly Black started a $50-50$ partnership business a few years ago which is called New Century Co$.$ Mr$.$

Harrison invested $$40,000$ in this business. The firm has recently declared bankruptcy and has $$60,000$ in unpaid debts. What is the

payments liability for Mr$.$ Harrison?

$($A$)$ Initially. Mr$.$ Harrison is liable for $$30,000(50\%$ of total unpaid debts$).$ But if his partner Mr$.$ Black cannot cover half the

debt, Mr$.$ Harrison is liable for the full amount of $$60,000.$

$($B$)$ Mr$.$ Harrison is liable for $$30,000.$

$($C$)$ Mr$.$ Harrison's liability is limited to his initial investment of $$40,000.$

$($D$)$ Mr$.$ Harrison is not liable for the debts, only his partner Mr$.$ Black is liable.