Option D. Of these options the answer that is true about the partnership is two of these.
<h3>What is a partnership?</h3>
This is the term that is used to refer to the situation where two people or more may jointly decide to run and own a business.
The two people are involved and liable for the business. When a partner dies the partnership dissolves.
Hence two options are correct. These are:
- If Jerard dies, the partnership will dissolve.
- Jerard will not be personally liable for business debts.
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<h3>Complete question</h3>
Aaron and Jerard form a partnership, with Aaron as general partner and Jerard as a limited partner. Which of the following is true? (Points : 1)
Aaron will be fully personally liable for business debts.
Jerard will not be personally liable for business debts.
If Jerard dies, the partnership will dissolve.
Two of these
