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Which of the following is true regarding joint and several liability? If a partner did not sign for or incur the liability, that partner doesn't
Which of the following is true regarding joint and several liability?
If a partner did not sign for or incur the liability, that partner doesn't have to pay for it
A partner cannot be made to pay more than their fair share of liabilities.
If a partner is required to pay more than their fair share of liabilities, they can seek indemnification from the other partners.
A partner who pays more than their fair share of liabilities has no recourse because they were fully liable for the debt.
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