alleryAn incoming partner admitted into an existing firm is:
ALiable only after public notice
BLiable only for half the past debts
CLiable for all past acts of the firm
DNot liable for any act of the firm done before his admission
Answer & Solution
Correct answer: D. Not liable for any act of the firm done before his admission
An incoming partner is, in the absence of agreement, not liable for acts of the firm done before he became a partner.
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