MrGreen Enters into a Partnership with IT Doctors LLP

question 44

Multiple Choice

Mr.Green enters into a partnership with IT Doctors LLP.Mr.Green's capital investment into the business is $10,000.Shortly after joining the new business,a client sues the IT Doctors LLP and wins a judgment of $750,000.How much is Mr.Green liable for?

• A)$10,000
• B)$100,000
• C)$750,000
• D)$0

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Definitions:

Property Rights

the legal rights to use, control, and dispose of land, possessions, or intellectual property, recognized and enforced by a legal system.

Multiculturalism

A concept or policy that promotes the respect for, and the inclusion of, diverse cultural backgrounds, traditions, and beliefs within a society.

Rationalization

Involves the process of replacing traditional and emotional thought with reason and practicality, often in the context of bureaucracies or societies becoming increasingly governed by logic and efficiency.

Separatism

The advocacy or practice of separation of a certain group of people from a larger body on the basis of ethnicity, religion, or gender.