Harry, Clyde, and Pete Carried on Business in Partnership as Hardware

question 2

True/False

Harry, Clyde, and Pete carried on business in partnership as hardware merchants. Clyde, who did most of the purchasing of stock for the partnership, would occasionally purchase (using his own money) an extra quantity of some items that could readily be sold to consumers. He would use the truck owned by the business on the weekends to travel to his cottage where he would sell the items to cottage owners in the area of his own cottage. Harry and Pete were unaware of Clyde's actions, as Clyde had not revealed his weekend business activity to either Harry or Pete. The partnership is automatically dissolved because of Clyde's actions.

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Definitions:

Actualized

The process of realizing and expressing one's capabilities and creativities to their fullest extent.

Actualization

The process of realizing or achieving one's full potential or self-fulfillment, often associated with Maslow's hierarchy of needs.

Unconscious

The segment of the psyche which remains beyond the reach of conscious awareness, yet influences actions and feelings.

Conditional Positive Regard

A concept suggesting that acceptance and love from others are contingent upon one's behavior meeting certain conditions or standards.