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Question
Which of the following is true about the liability of a dissociated partner for obligations incurred while a partner?
A. To complete the requirements for novation, a dissociated partner must also secure his release by the partnership's creditors.
B. Dissociated partners are not liable to partnership creditors for partnership liabilities incurred while they were partners.
C. Continuing partners must not indemnify dissociated partners from liability on partnership obligations.
D. A creditor's agreement to release an outgoing partner from liability may be implied, but usually it is express.
Answer
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