Which of the Following Statements Is True Regarding the Duty

question 38

Multiple Choice

Which of the following statements is true regarding the duty of care, if any, that one partner owes to another?

• A) The duty of care is not involved in the law of partnership.
• B) The duty of care is owed by each partner to the partnership itself, but partners do not owe a duty of care among themselves.
• C) Partners owe a duty of care among themselves, but only in regard to transactions involving over $5,000.
• D) While partners owe a duty of care to each other, a partner who makes an honest mistake in fulfilling responsibilities to the partnership will not be held liable for the mistake.
• E) Partners owe a duty of care to each other, and a partner is liable to other partners on a strict liability basis for any mistakes or errors made.

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Definitions:

Decolonization

The process by which African and Asian colonies of European empires became independent in the years following World War II.

Operation Dixie

A post-World War II campaign initiated by the Congress of Industrial Organizations (CIO) aimed at unionizing textile workers and other laborers in the southern United States.

Fair Deal

A set of social and economic reforms proposed by President Harry S. Truman to continue the legacy of the New Deal.

Harry Truman

The 33rd President of the United States (1945-1953), known for his decision to use atomic bombs against Japan in WWII and for initiating the Marshall Plan to rebuild Europe.