To what extent is a new partner liable for obligations upon admission?

A new partner's liability upon admission to a partnership is influenced by both existing obligations and the timing of when those obligations were incurred. When a partner joins an established partnership, they typically become liable for the partnership’s preexisting debts; this accountability is essential in maintaining trust and responsibility among business partners.

For liabilities that existed before the new partner's admission into the partnership, the general rule is that a new partner is not automatically liable unless specifically outlined in a stipulation or agreement made at the time of joining. However, the correct answer specifically indicates that a new partner would be liable for obligations incurred after their admission regardless of any stipulations. This reflects the principle that new partners assume responsibility for the ongoing activities and debts of the partnership that arise post-admission, as they are now part of the decision-making and management structure of the partnership.

Therefore, the combination of being liable for pre-admission obligations if stipulated, coupled with the automatic liability for obligations incurred after admission, is accurately captured in the correct choice. Recognizing both aspects effectively illustrates the balance of protection for both existing partners and the new partner in the dynamics of partnership law.