Which One of the Following Statements Is Correct with Respect

question 154

Multiple Choice

Which one of the following statements is correct with respect to the law of partnership?

• A)Partners are responsible for any contracts entered into by the partners related to the partnership business.
• B)Partners are only responsible for contracts entered into by the partnership if the third party knew that the person it was dealing with was a partner in the partnership.
• C)A partner is responsible for contracts with third parties entered into by the partners only where it has been clearly stated by the partner to the third parties that he is entering the contract on behalf of the partnership.
• D)Partners cannot bind their partners in contract without specific written authority.
• E)Every partner is responsible for every contract entered into by the partnership.

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Definitions:

Stagnation

A state or period in which there is no growth or development, often used to describe psychological or social situations where progress is halted.

Latency Stage

The fourth stage in Freud's psychosexual stages, occurring from about age 6 to puberty, characterized by the sublimation of sexual impulses into socially acceptable activities.

Psychosocial Development

A theory by Erik Erikson that outlines eight stages of psychological development that individuals go through from infancy to adulthood, each characterized by a specific challenge.

Deductive Reasoning

A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.