The Ability of a Partner to Enter into a Contract

question 92

Multiple Choice

The ability of a partner to enter into a contract on behalf of all partners is called

• A)the partnership agreement
• B)voluntary association
• C)mutual agency
• D)unlimited liability

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Definitions:

Acquaintances

People known by someone, but not considered close friends; typically relationships are of a less intimate nature.

Grapevine

An informal communication network within an organization.

Explicit Words

Words that are expressed clearly and in detail, leaving no room for confusion or interpretation.

High-context Cultures

Societies or groups where communication relies heavily on the contextual elements like body language, implicit messages, and the social hierarchy, rather than solely on explicit words.