The Implied Authority of Each Partner to Bind the Other

question 25

Multiple Choice

The implied authority of each partner to bind the other partners in the partnership does not include authority to:

• A)Hire employees.
• B)Buy and sell trading stock.
• C)Give a guarantee on behalf of the partnership.
• D)Write cheques on behalf of the partnership.

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Definitions:

Societal Organization

Societal organization pertains to how a society structures itself, including its institutions, social hierarchies, and roles that govern how individuals interact within the society.

Communication Feasibility

Refers to the practicality and possibility of effectively transmitting information between parties.

Social Order

The system of structured relationships, norms, and practices that maintain a cooperative and cohesive society.

Stress Reliever

An activity, practice, or behavior that reduces psychological tension or manages the effects of stress.