Smith and Roberson's Business Law
Smith and Roberson's Business Law
16th Edition
ISBN: 9781285428253
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 31, Problem 19CP
Summary Introduction

Case summary:

This case deals with a two persons, Person D and Person S opening up a Company L under partnership. After 7 years later with the help of a written agreement the partnership was dissolved. This news was printed in the local newspaper however no notice was given to companies which earlier credit extended to them in the earlier. On the basis of the agreement of dissolution, one of the partners decided to endure with the problem with the business. The problem here enquires one to determine if the closure of the partnership will release the proprietor of any liabilities left.

To discuss: Whether the partnership dissolution relives Person D for personal liability of accounts.

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Smith and Roberson's Business Law

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