CAF-4 · Chapter 13 · Question 4 of 10
If a minor attains majority, elects to become a full partner in the firm, and gives public notice, from what date does their personal liability for the firm's past debts commence?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Since the date they were initially admitted to the benefits of the firm.
Explanation
If a minor elects to become a partner upon reaching majority, they become personally liable to third parties for all acts of the firm done since they were originally admitted to the benefits of partnership.
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