Chuck,Bob,and Bert Form CB&B Partnership to Run a Specialty Grocery

question 19

Multiple Choice

Chuck,Bob,and Bert form CB&B Partnership to run a specialty grocery store.Bert is the day-to-day manager of the store,Bob buys the groceries,and Chuck does all the administrative work.Bob decides he would like a new car to drive to visit prospective wholesalers.He makes a contract with Big Ben Motors in the name of CB&B without consulting Chuck and Bert.The partnership is:

• A) bound by Bob's actual implied authority to buy a car.
• B) bound by Bob's apparent authority to buy a car.
• C) bound by Bob's ostensible authority to buy a car.
• D) not bound because buying a car is outside the scope of the partnership business.

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Definitions:

Terms

Components of an expression or equation, separated by plus or minus signs, representing quantities or variables.

Distributive Property

A fundamental property of algebra stating that a(b + c) = ab + ac, allowing the distribution of multiplication over addition or subtraction.

Distributive Property

A property indicating that for any three numbers, the product of a number and the sum of the other two is equal to the sum of the individual products of the number with each of the other two.