Business, 04.04.2020 08:11 sativataurus
Joe Perone was a member of Caddy, Shack, & Perone, a general trading partnership. He died and the partnership is being liquidated in a bankruptcy proceeding, but Perone's estate is substantial. The creditors of the partnership are seeking to collect on their claims from Perone's estate. Which of the following statements is true insofar as their claims are concerned?
Partnership creditors and Perone's personal creditors are on an equal footing regarding the assets of Perone's estate.
Rely on information provided by a corporate officer
All limited partners' capital contributions must be paid in cash.
Answers: 1
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Joe Perone was a member of Caddy, Shack, & Perone, a general trading partnership. He died and th...
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