Solved

After Retiring from Jones & Co

Question 18

Multiple Choice

After retiring from Jones & Co.,a partnership founded by Megan,Jim Jones,and other partners,Megan grew tired of staying at home and started visiting the firm's place of business.The other partners would introduce her to prospective customers as "My partner,Ms.Jones," or "Our partner,Ms.Jones." Megan did not bother to correct anybody about this.She was introduced in this manner to Tiffany,a new customer.Relying on the idea that Megan was a partner,Tiffany entered into a contract with Jones & Co.If Jones & Co.does not fulfill its obligations,can Megan be held liable?


A) Under the RUPA,Megan is not liable as she did not make any claims to partnership.
B) Megan is liable,as she failed to correct the statement when she was being introduced as a partner.
C) Megan is not liable,but the partner who introduced Megan is liable.
D) Megan is not liable as she has withdrawn from the partnership agreement by retiring.She is no more an actual partner.

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