Solved

The Oak Grove Partnership Decided It Would Buy Personal Computers

Question 53

Multiple Choice

The Oak Grove Partnership decided it would buy personal computers for use by each partner.Unknown to the other partners,Cromwell,a partner,had an ownership interest in a computer store and thought he could get the computers for the partnership at the best price because of his inside position.He did,in fact,obtain eight computers at only $150 above the manufacturer's price,which was $250 less than the next lowest bid for each computer.What consequence?


A) Because Cromwell did not tell his partners of his inside position with the computer store,there will be no sale.
B) Since Cromwell obtained the lowest price available,the deal will go through.
C) Cromwell will have to give his part of the sales profits to the partnership.
D) Cromwell will have to rescind the contract and go with the next highest bidder.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents