Actual Authority of Partners to Enter Contracts on Behalf of the Partnership

question 16

Multiple Choice

Actual authority of partners to enter contracts on behalf of the partnership

• A) means that authority is implied because the conduct of the parties have reasonably led third persons to believe that such authority exists
• B) means that other partners have approved the contract
• C) always exists for all partners
• D) all of the above
• E) none of the above

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Definitions:

Tax Incentives

Financial discounts or reductions offered by governments to encourage certain behaviors or investments among taxpayers.

Subsidize Production

Financial assistance given by a government to support the production of goods or services.

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Deaths that occur before the average age of death in a population, often due to preventable factors.

Turkeys

Generally refers to domesticated birds commonly raised for consumption, but can also colloquially denote a failure or unsuccessful endeavor.