Rose, Violet, and Daisy decided to open a greenhouse. They formed a limited partnership with Rose and Violet as general partners, and Daisy as a limited partner. Each partner invested $10,000 in the partnership. While Rose went away for a week, Violet made a contract for $10,000 for remodeling of a green house. When Rose returned, she disapproved the contract. Discuss who will be liable on this contract.
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Q50: Match the terms with their descriptions:
-Co-partnership
A) Occurrence
Q51: Match the terms with their descriptions:
-De facto
Q52: Match the terms with their descriptions:
-Limited liability
Q53: Match the terms with their descriptions:
-Sole proprietorship
A)
Q54: Match the terms with their descriptions:
-Syndicate
A) Occurrence
Q55: Match the terms with their descriptions:
-General partners
A)
Q56: Define a sole proprietorship and identify its
Q57: Define a general partnership and a limited
Q58: Define a corporation and identify its main
Q60: David, Mike, and Peter want to create
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