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

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25-01-2020
Business

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

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micahdisu micahdisu · Answer 1 · 2020-01-26T19:05:23+01:00

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.

alphabetsoup alphabetsoup · Answer 2 · 2020-06-28T05:56:18+02:00

alphabetsoup alphabetsoup

28-06-2020

Answer:

all partners face unlimited liability.

Explanation:

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