When a third party demands payment from a partner for a partnership debt, what is the resulting effect?

When a third party demands payment from a partner for a partnership debt, it constitutes a demand upon the partnership. This demand signifies that the creditor is seeking payment for obligations that the partnership has incurred. Under partnership law, each partner is jointly and severally liable for all partnership debts, meaning that creditors can pursue any partner for the full amount of the debt.

This demand solidifies the recognition that the partnership as an entity is responsible for its debts, but also acknowledges that individual partners can be held personally accountable. However, the act of one partner being approached for the debt does not change the liability situation; it reinforces the understanding that creditors may look to any partner for fulfillment of that obligation, and the demand reflects an attempt to enforce the rights held by the creditor against the partnership as a whole.

The other choices do not accurately characterize the implications of such a demand. The demand indeed affects the partnership because it triggers potential liability for the debts owed. It does not mean only the managing partner is liable, as all partners share liability, and while a partner may choose to pay from personal assets, the demand itself fundamentally acts as a request directed at the partnership for satisfaction of the debt.