Which One of the Following Statements Is Correct with Respect

question 11

Multiple Choice

Which one of the following statements is correct with respect to the law of partnership?

• A) Every partner is responsible for every contract entered into by his partner.
• B) Partners are only responsible for contracts entered into by their partnership if the third party knew that the person they were dealing with was a partner in the partnership.
• C) Partners are responsible for any contracts entered into by their partners related to the partnership business.
• D) A partner is responsible for contracts with third parties entered into by their partners only where it has been clearly stated by the partner to the third party that he is entering the contract on behalf of the partnership.
• E) Partners cannot bind their partners in contract without specific written authority.

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Definitions:

Global Environment

The international context within which organizations operate, influenced by economic, social, technological, and political factors across borders.

Divisional Structure

A structure that organizes a company by units according to the products they make, the customer segments they serve, or the geographic location in which they operate.

Functional Structure

A structure that organizes a company into units identified by their functional roles, or what they do.

Meganational Companies

Companies that operate on a global scale, extending their products, operations, and marketing strategies across multiple countries.