Assertion: partnership's partner | /r/CapableOf | pay debt
Facets:
Source sentences:
text: Ending a partnership requires that the partners fulfill remaining business obligations, pay all debts, and divide profits and assets with equity, or according to distributive share percentage.
text: This means that if the partnership can't afford to pay creditors or the business fails, the partners are individually responsible to pay for the debts and creditors can go after personal assets such as bank accounts, cars, and even homes.
text: In that case, the partners must fulfill any remaining business obligations, pay off all debts, and divide any assets and profits among themselves.
text: This means that if the partnership can't afford to pay creditors or the business fails, the partners are individually responsible to pay for the debts and creditors can go after personal assets such as bank accounts, cars, and even homes.
text: Once a partner pays off the creditor, he or she can seek "contribution" from the other partner(s).