Kate is a partner of a limited liability partnership (LLP) that provides accounting services.Acting within her authority,Allie,who is one of Kate's subordinates,negligently provides accounting services to a client.The client sues the LLP and its partners.Which of the following is incorrect?
A) The LLP is liable to the client.
B) Allie is liable to the client,and the judgment may be satisfied out of her personal assets.
C) Kate is not personally liable for Allie's negligence.
D) Kate is personally liable to the client,and the judgment may be satisfied out of her partner's personal assets.
Correct Answer:
Verified
Q70: Which of the following statements about LLPs
Q71: Under which of the following circumstances will
Q72: Which of the following is not allowed
Q73: When a partnership and the other partners
Q74: A partner who has the authority to
Q76: In NBN Broadcasting,Inc.v.Sheridan Broadcasting Networks,Inc.the court held
Q77: Partnership agreements often include provisions that excuse
Q78: Which of the following is not a
Q79: A single partner's knowledge of material information
Q80: Which of the following statements about silent
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