LLP partners are personally liable for contractual obligations and may be sued.
Correct Answer:
Verified
Q4: A partnership will be bound by the
Q5: A partner's express and implied authority constitutes
Q6: In all partnerships,profits are shared according to
Q7: In a partnership,some classes of partners may
Q8: A partner of a trading partnership ordinarily
Q10: In a partnership,each partner has limited personal
Q11: A partnership does not have the authority
Q12: The standards and principles of agency law's
Q13: A partner may not compete against the
Q14: Any notice given to a partner is
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