In a Partnership,are Partners Liable for the Crimes Committed by Another

question 55

Essay

In a partnership,are partners liable for the crimes committed by another partner? Explain.

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Definitions:

Payment

The transfer of money or goods from one party to another as compensation for goods, services, or to fulfill a legal obligation.

Check Clearing

The process by which banks exchange checks and settle funds, ensuring that the amount specified on the check is transferred from the payer's account to the payee's account.

Bank Time

A policy where employees can accumulate hours of work time to use at a later date, often for leave purposes.

Float

The time difference between when a bank transaction is initiated and when it is completed, allowing funds to appear available in the account before they actually are.