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Assignment3_Ch17&18.docx - Wenqiao Wang CH17&18...

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Wenqiao Wang CH17&18 ASSIGNMENT Q1. In this scenario, the relationships between different entities were limited in duration. The partnership was limited in five years, which means the relationship is a partnership for a term. Q3 Yes, he can. According to UPA 306(a), partners are both jointly and severally (separately, or individually) liable for all partnership obligations, including contracts, torts, and breaches of trust. It means a third party has the option of suing all of the partners together (jointly) or one or more of the partners separately (severally). Moreover, all partners in a partnership can be held liable even if a particular partner did not participate in, know about, or ratify the conduct that gave rise to the cause of action. But the creditor must enforce a judgment
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