Which One of the Following Statements Is Correct with Respect

question 165

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 or her 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:

Casual Acquaintances

People one knows slightly, but who are not close friends.

Selective Listening

The process of listening to and processing only parts of incoming auditory messages that interest the listener, often ignoring other parts.

Overwhelmed

A state of being where an individual feels unable to manage or cope with their current emotional or physical burdens.

Red Flag Words

Terms or phrases that signal potential problems or areas of concern, often used in communication to alert to issues.