credits of firm including bank debt

sanman ayachit (Querist) 29 July 2008 This query is : Resolved
Is the firm gets free from its credits including its cash credit if it becomes poor to make any transaction of money and fells to pay its credits?

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Srinivas.B.S.S.T (Expert) 29 July 2008
Sir can you be more specific about your doubt and please furnish fuller details so that we can be of any help to you.

Guest (Expert) 30 July 2008
In that case the partners are laible to repay debts from out of thier personal assets.

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