Being Mutually Accountable to a Supervisor Rather Than to Other

question 31

True/False

Being mutually accountable to a supervisor rather than to other members of the team makes members feel mutual trust and commitment-a key part in motivating members for team effort.

Recognize the types and extents of liabilities partners have towards partnership obligations and third-party claims.

Understand the legal processes involved in the dissolution, winding up, and the distribution of assets in a partnership.

Identify the concept of implied, apparent, and actual authority within partnerships.

Understand the principles of partnership by estoppel and how they affect third-party relations.