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Fikayo Akinluyi
on Nov 30, 2024

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The liability of partners for a tort or breach of trust committed by any partner is unlimited, personal liability.

Unlimited Personal Liability

A legal status where an individual's financial liability is not limited to a specific amount, potentially involving all personal assets to satisfy debts or liabilities.

Tort

A civil wrong that causes someone else to suffer loss or harm, resulting in legal liability for the person who commits the act.

Breach Of Trust

The failure of a trustee to act in accordance with the terms of the trust agreement or in the best interest of the beneficiaries.

  • Grasp the implications of partner liability for actions within the partnership.
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Savanna EvansDec 06, 2024
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