The agreement to hold Fein harmless for all past, present, and future liabilities of ABC will

A. Prevent partnership creditors from holding Fein personally liable only as to those liabilities of ABC existing at the time of Fein's withdrawal.
B. Prevent partnership creditors from holding Fein personally liable for the past, present, and future liabilities of ABC.
C. Not affect the rights of partnership creditors to hold Fein personally liable for those liabilities of ABC existing at the time of his withdrawal.
D. Permit Fein to recover from the other partners only amounts he has paid in excess of his proportionate share.

Answer: C. Not affect the rights of partnership creditors to hold Fein personally liable for those liabilities of ABC existing at the time of his withdrawal.

Business

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A. Bank of America may get a deficiency judgment against Trina for the remaining amount of the debt B. Bank of America must accept the $25,000 in full satisfaction of the debt. C. Trina will be jailed until she can pay the remaining amount of the debt

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A firm's cash position would most likely be hurt by

A) increasing the net profit margin. B) retiring outstanding debt. C) decreasing excess inventory. D) establishing stricter (shorter) credit terms

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