Asked by Roselyn Villaruz on Jun 11, 2024

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If a partner has paid more than his share of partnership losses, he has a right of contribution against the partners who have not paid their share.

Right of Contribution

A legal principle that allows a person who has discharged a debt or obligation which was owed by several parties jointly to claim a proportionate reimbursement from the other parties.

Partnership Losses

Financial deficits incurred by a partnership due to its business operations, shared among its partners according to their agreement.

  • Comprehend the privileges and duties entailed in a partnership at the point of member induction or departure.
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Alejandra MartinezJun 15, 2024
Final Answer :
True
Explanation :
In a partnership, if a partner pays more than their share of losses, they have the right to seek contribution from the other partners who have not paid their fair share, to ensure that losses are distributed according to the agreed-upon terms or partnership agreement.