General partnership to publish all star study guide

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Reference no: EM131579999

Scott, Marge, and Marcus formed a general partnership to publish All Star Study Guide to 403. While still compiling the book, Scott decided he had better things to do and decided to leave the partnership. The partnership had incurred a $10,000 debt from Redwood Paper Company before Scott left and incurred an additional $5,000 debt from Redwood after Scott left.

a. Scott will only be liable for amount of money he contributed to the partnership.

b. As long as the partnership published notice in the newspaper, Scott is only liable for $10,000.

c. If Redwood received actual notice from the partnership, then Scott is only liable for $10,000.

d. Scott will be liable for the whole $15,000.

Reference no: EM131579999

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