'Mutual Liability' in Relation to a Partnership Means That

question 29

Multiple Choice

'Mutual liability' in relation to a partnership means that:

• A)Each partner is responsible for their own actions, and is not liable for the actions of the other partners.
• B)Each partner is personally liable for the whole of the debts of the partnership.
• C)Each partner is both the principal and the agent of the other partners, and as such is liable for the actions of the other partners.
• D)Each partner is jointly and severally liable with the other partners for the debts of the partnership.

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Definitions:

Self-worth

The subjective evaluation of one's own value as a person, often influenced by self-perception and external validation.

Social Comparison

The process of evaluating oneself by comparing with others.

Life Positions

Psychological stances or attitudes toward oneself and others, based on early experiences, that influence interaction and communication patterns.

Eric Berne

A psychiatrist best known for developing the theory of Transactional Analysis, which explores the dynamics of interpersonal relationships.