The Partners in a Nontrading Partnership Have the Same Apparent

question 10

True/False

The partners in a nontrading partnership have the same apparent authority as partners in a trading partnership.

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Definitions:

Contract

A contract that is legally enforceable and entered into by two or more parties.

Unenforceable

Describes a contract or provision that is null and incapable of being upheld or enforced by law.

Principal

The original sum of money borrowed in a loan, or the amount of the investment.

Negotiated

The process of discussing to reach an agreement in business, employment conditions, or contracts.