Asked by Prabha Karki on May 29, 2024
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The charging-order creditor is a lien creditor and is entitled to receive only the partner's share of the partnership distributions.
Charging-Order Creditor
A creditor's legal right to attach a debtor's interest in an LLC or partnership, as a means to satisfy the debtor's outstanding obligation.
Lien Creditor
A creditor who has a legal right or claim against a debtor's property as security for a debt or charge.
Partnership Distributions
The sharing out of profits, assets, or earnings among the partners of a partnership based on the agreed-upon terms.
- Recognize the indebtedness results for stakeholders in different partnership frameworks.
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Learning Objectives
- Recognize the indebtedness results for stakeholders in different partnership frameworks.
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