The partners of College Assoc., a general partnership, decided to dissolve the partnership and agreed that none of the partners would continue to use the partnership name. Under the Uniform Partnership Act, which of the following events will occur on dissolution of the partnership?
A.
Each partner's existing liability would be discharged.
B.
Each partner's apparent authority would continue.
C.
Each partner's existing liability would be discharged and each partner's apparent authority would continue.
Incorrect D.
Each partner's existing liability would not be discharged nor would each partner's apparent authority continue.
You answered D. The correct answer is B.
The dissolution of a partnership does not discharge the personal liability of partners for unpaid obligations of the partnership. In addition, each partner continues to have the apparent authority to make contracts which would be binding upon the partnership until and unless both actual and constructive notice of the dissolution is given by the partnership.
Shouldn't the answer be D here off the explanation?
.