Rocky and Paulie enter into a professional boxing partnership. Paulie, not being a very bright man, makes all partnership decisions by flipping a coin. Which of the following statements is correct?
A) As long as Paulie did not act with malice aforethought, he will not be held liable for a breach of duty of care.
B) If the court determines that Paulie's actions were grossly negligent, then he will have breached his duty of care.
C) As long as his flip of the coin decisions make money some of the time, he will not be determined to have breach his duty of care.
D) Paulie breached his duty of loyalty.
Correct Answer:
Verified
Q19: General partners' personal assets are at risk
Q20: Vladamir, Alexander and Tchaicovsky are each partners
Q21: Siegfried and Roy enter into a white
Q22: Idi and Amin are partners in a
Q23: Harry and Ron are partners in a
Q24: A responsibility to act in the best
Q25: All of the following are fiduciary duties
Q26: In the case, Meinhard v. Salmon, the
Q28: Peggy, Crystal and Dean want to enter
Q29: When a partnership has reached its agreed-upon
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