Ask Question
11 July, 17:25

If one owner of a partnership makes a bad decision that ends up in the business being sued then what happens

+5
Answers (2)
  1. 11 July, 17:35
    0
    Answer: The partners in the business would all be liable for any losses or debts.

    Explanation: A partnership business is not a"legal entity" which means the business does not have it's own personal identity. Any case of debt or losses resulting from a law suit would be borne by all the individual partners. Also, each partner is empowered to act as an agent for the partnership, that is, he/she can enter into contracts or agreements on behalf of the partnership business. By virtue of this, every other partner is bound by the actions of the erring partner.
  2. 11 July, 20:33
    0
    all partners face unlimited liability.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If one owner of a partnership makes a bad decision that ends up in the business being sued then what happens ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers