Which One of the Following Statements Is Correct with Respect

question 77

Multiple Choice

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

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

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Definitions:

TRC

Can refer to a Truth and Reconciliation Commission, which is a commission tasked with discovering and revealing past wrongdoing by a government, in the hope of resolving conflict left over from the past.

South Africa

A country at the southern tip of Africa, known for its diverse culture, languages, and geographic landscapes.

Overarching Goal

The primary, broad objective that guides decision-making and strategy in various contexts, often encompassing several smaller objectives or efforts.

Restored Dignity

The process of returning respect, self-worth, and honor to someone who has been devalued or humiliated.