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:
Verified
Q93: Which of the following statements is true
Q94: A deep fryer used in a fast-food
Q95: Under which of the following does the
Q96: Jack works as a mechanic in No
Q97: Aside from granting leave,what are the responsibilities
Q99: What is the purpose and jurisdiction of
Q100: Which of the following statements is true
Q101: What are the rewards received by the
Q102: When can public employees be tested for
Q103: What is the doctrine of respondeat superior?
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