A partner can be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation. Group of answer choices False True

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The answer is False.

A partnership is a simple method to start and run a business. A group of friends, family, or even coworkers commonly enter the business field as 'partners.'

Legally, a collaboration is an organization of two or more persons known as general partners who function as co-owners of a corporation and administer it for profit.

Although a formal relationship arrangement is not technically required and an oral agreement may be appropriate, it is always good business to put everything on paper (the ownership specifics, including the parties' rights and obligations and their share of profits) to avoid misunderstandings and disputes.

Therefore, the answer is false.

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