Sharon and Martha Are General Partners of the SM General

question 42

Multiple Choice

Sharon and Martha are general partners of the SM general partnership.Sharon,acting with authority,negotiated and signed for a $500,000 loan to SM from a bank.SM has not repaid this loan.The bank can recover its loan from:

• A)Sharon only.
• B)SM and Sharon;they are jointly liable only.
• C)SM,Sharon,and Martha;they are jointly liable only.
• D)SM,Sharon,and Martha;they are jointly and severally liable.

---

Definitions:

Irrational Beliefs

Thoughts that are not based on reality or logical reasoning, often leading to negative emotions or actions.

Self-schema

Cognitive representations of oneself that guide the processing of self-relevant information.

Innate Behavior

Behaviors that are hard-wired into an organism's biological makeup, present at birth and not learned from experience.