alleryA 'sub-partner' (a person with whom a partner shares his own share of profits):
AHas no rights against the firm and is not liable for the firm's debts
BCan bind the firm by his acts
CIs liable to third parties for firm acts
DIs a full partner of the firm
Answer & Solution
Correct answer: A. Has no rights against the firm and is not liable for the firm's debts
A sub-partner is a stranger to the firm: he neither has rights against the firm nor is liable for its debts
his arrangement is only with the partner who shares profits with him.
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