A and B Have Decided to Carry on a Business

question 21

Multiple Choice

A and B have decided to carry on a business in partnership in Ontario,and A has his lawyer prepare a detailed partnership agreement setting out their respective rights and obligations.However,at the last minute,B refuses to sign the agreement and A,who trusts B,decides that the agreement is unnecessary.In this case,the partnership will be governed by

• A)the law of contract.
• B)the terms of the partnership agreement.
• C)the Partnership Act.
• D)the Business Names Act.
• E)the principles of equity.

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Definitions:

Colonial Green Algae

A group of green algae that live together in a colony, where individual cells are often connected by cytoplasmic bridges and exhibit little differentiation.

Volvox

A genus of green algae forming spherical colonies that live in fresh water and are capable of photosynthesis and sexual and asexual reproduction.

Eukaryotes

Organisms whose cells contain a nucleus and other organelles enclosed within membranes, contrasting with prokaryotes, which lack a membrane-bound nucleus.

Protists

A diverse group of eukaryotic microorganisms, which are not plants, animals, or fungi, ranging from amoebas to algae, and can be either single-celled or multicellular.