When a Partnership and the Other Partners Are Held Liable

question 40

Multiple Choice

When a partnership and the other partners are held liable for a partner's tort,they may recover the amount of their ________ liability from the wrongdoing partner,but only if the partner fails to comply with ________.

• A)vicarious;the fiduciary duty of care
• B)joint and several;duty of loyalty
• C)vicarious;duty of loyalty
• D)joint and several;the fiduciary duty of care

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Definitions:

Investment

entails the allocation of resources, usually money, into assets or projects expected to generate returns or profits over time.

Risk

The exposure to uncertainty or the potential of loss that can occur as a result of an investment's actual return differing from the expected return.

Acquisition Analysis

A financial and strategic assessment to understand the value, synergies, and potential benefits of acquiring a company or asset.

Target Firm

A target firm is a company that is identified as a potential acquisition candidate by another company or investor.