Practicing Success
In a partnership business, A and B are partners and the firm is not able to pay the debts of the firm. Firm want to pay debts of firm from their private assets to which B denies but A agrees. Who is right in this situation? |
A is right B is right Both are wrong None of these |
A is right |
Partners of the partnership firms possess unlimited liability for their total debts and legal consequences. In this, their assets are liable to get attached to meet the debts and liabilities of the firm. |