Operation and Dissolution of General Partnerships
Explain the contract liability of a partnership and the partners.
• Explain the tort liability of a partnership and the partners.
• Distinguish between the liability of incoming partner for debts arising before his admission and those arising after admission.
• Identify the causes of dissolution of a partnership and the conditions under which partners have the right to continue the partnership after dissociation.
• Explain the effect of dissolution on the authority and liability of the partners and the order in which the assets of a partnership are distributed to creditors and partners.
