If a Partner's Act Is Not Apparently for Carrying on in the Ordinary

question 18

Multiple Choice

If a partner's act is not apparently for carrying on in the ordinary course the partnership business:

• A) the partnership is bound only where the partner has actual authority.
• B) the third person dealing with the partner becomes liable along with the partner.
• C) the partner is necessarily acting without authority.
• D) the partnership is bound anyway because a partner always has authority to bind the partnership.

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Definitions:

Price Effect

The impact on consumer demand and market supply when the price of a good or service changes.

Total Revenue

The total amount of money generated by a firm from the sale of its goods or services.

Hats

headwear designed for various purposes, including protection against environmental conditions, religious significance, or as a fashion accessory.

Deadweight Loss

The reduction in economic productivity that happens when a good or service does not reach or cannot reach its market equilibrium.