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May 08, 2024 Clouds | 54°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title XV REGULATION OF TRADE
  4. Chapter 108A PARTNERSHIPS
  5. Section 17 Liability of new partner for partnership obligations

Section 17

Section 17: Liability of new partner for partnership obligations

Section 17. A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.