Assertion: partnership's partner | /r/HasProperty | held responsible
Facets:
value: personally
type: MANNER
value: for obligations
type: CAUSE
value: financially
type: MANNER
value: for business debts
type: CAUSE
value: for damages
type: PURPOSE
value: for the funds
type: OTHER
Source sentences:
text: For example, if a partner signs a contract with a supplier at a price the partnership cannot afford, another partners can be held personally responsible for the funds owed under the contract.
text: This means the partner can be held personally responsible for business debts and damages brought on by plaintiffs.
text: It is important to note that if the partnership as a whole signed contracts or agreed to a particular debt, all the partners can be held financially responsible.
text: The limited partnership still has one or more general partners who are held responsible for the company's legal and financial debts and obligations and who also run the company.