Abby and Zeke begin a joint venture together selling fruitcakes door to door. Each invests $500. The joint venture generates large debts, and there is not sufficient income from the joint venture to pay them. Abby and Zeke as joint venturers are:
a. liable only to the amount of assets available in the joint venture.
b. liable only to the amount invested.
c. personally liable.
d. personally liable in proportion to the amount invested.
Answers: 2
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Abby and Zeke begin a joint venture together selling fruitcakes door to door. Each invests $500. The...
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