Suppose you form a legal partnership with your best friend, and she purchases consulting services calling for a $100,000 fee. Your business is broke, and you never wanted the consultants to work for you, just your partner did. For how much of this debt are youlegally liable?
A) none of it
B) $100,000
C) the proportion reflected by the proportion of the business owned
D) only an amount equal to the assets of the business
E) $50,000
Correct Answer:
Verified
Q96: Which of the following strategies might a
Q97: In a hostile takeover,
A) existing management of
Q98: How can a person be an indirect
Q99: The primary difference between a proprietorship and
Q100: Brian is the sole proprietor owner of
Q102: A firm with one owner, who typically
Q103: Which of the following is considered to
Q104: Neighborhood florist shops, restaurants, and travel agencies
Q105: What type of business is most likely
Q106: Unlimited liability means
A) a firm is always
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