The Ability of a Partner to Enter into a Contract

question 51

Multiple Choice

The ability of a partner to enter into a contract on behalf of all partners is called:

• A) voluntary association.
• B) mutual agency.
• C) the partnership agreement.
• D) unlimited liability.

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Definitions:

Rational

Thinking or reasoning based on logic or reason, often characterized by the ability to think critically and make sound judgments.

Unconscious

The part of the mind that contains thoughts, memories, and desires not within the immediate awareness of the individual.

Freud's Personality Model

A theory suggesting personality is composed of the id, ego, and superego, balancing basic desires, realistic decisions, and moral constraints, respectively.

Ego

A component of the psyche associated with self-perception, self-esteem, and the management of personal identity.