Jack and Jill form a partnership.
Question
Jack and Jill form a partnership. Jack runs the business in New York, while Jill vacations in Hawaii. During the time Jill is away from the business, Jack increases the debts of the business by $20,000. Which of the following statements is true regarding this debt? – Q/A (Question and Answer)
Test Answer
Answer:
Both Jack and Jill are personally liable for the business debt.
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