Fact Pattern 37-2A (Questions A9-A10 apply)
Luann and Mace are partners in Networx,a computer peripherals firm.
-Refer to Fact Pattern 37-2A.Luann signs a contract with Oleo Chips,a retail component supplier,apparently on Networx's behalf.The contract is binding on
A)Luann,Mace,and Networx.
B)Luann only.
C)Networx only.
D)Oleo only.

Question

Quizplus · Accepted Answer

As a partner, Luann has the authority to bind the partnership (Networx) in contracts with third parties like Oleo Chips, making the contract binding on both partners, Luann and Mace, as well as the partnership itself.

Fact Pattern 37-2A (Questions A9-A10 Apply)