Solved

Which of the Following Statements Is True of Partners in a Nontrading

Question 98

Multiple Choice

Which of the following statements is true of partners in a nontrading partnership?


A) The partners are usually engaged in the business of selling and buying commodities.
B) The partners have an implied authority to pledge the credit of the firm.
C) The partners have no implied power to borrow money.
D) The partners are exempt from showing any actual power for the firm to be bound.
E) The partners are allowed to conduct any business transaction regardless of the authority vested in them.

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