When a partner makes an honest mistake (and does not commit negligence) while working on behalf of the partnership :
A) Both the partner and the partnership are excused from liability.
B) The entire firm is liable if third parties are involved.
C) The other partners are equally liable.
D) The partner who made the mistake is liable if third parties are involved.
Correct Answer:
Verified
Q1: Explain the nature of partnership liabilities.
Q2: In a partnership, majority rule applies to
Q4: In a case of a false impression
Q5: Mark and James established a partnership to
Q6: If a partner acts as an agent
Q7: In the absence of a statute to
Q8: What is the effect of the right
Q9: Personal creditors of one partner can force
Q10: Which of the following should be contained
Q11: A written partnership agreement might help avoid
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents