ND Bar Practice Questions - North Dakota Bar Examination Exam

Access More Questions

Two people operate a business together for profit, sharing profits and management, without filing any formation documents. A creditor of the business seeks to hold them both personally liable. Under the Uniform Partnership Act framework, they are most likely:

Shielded from liability because they never registered Mere co-owners of property with no business liability Limited partners with no personal liability General partners, each jointly and severally liable for the partnership's obligations

Correct Answer:

General partners, each jointly and severally liable for the partnership's obligations

Access more questions from this quiz

Continue to ND Bar Practice Questions - North Dakota Bar Examination Exam for more practice questions and the full quiz experience.

Access More Questions