Shawnequa is a partner of Cost Hydrohut LLP,an accounting limited liability partnership.One of Shawnequa's partners negligently audits a client,with the result that a bank that relied on the client's audited financial statements suffers damages when the client fails to repay the loan.The bank sues Cost Hydrohut,but its assets are insufficient to pay the entire damages.Will the bank be able to collect the remaining damages from Shawnequa's personal assets?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q51: Together,express and implied authority constitute _.
A)fixed authority
B)actual
Q56: Lloyd is a partner in an ordinary
Q57: Vernon and Josh are partners in an
Q58: In a partnership,partners may give everyone notice
Q59: What document gives authority to a managing
Q66: What form of partnership prevents the partners
Q71: Under which of the following circumstances will
Q88: Frazier and Roz are partners.Frazier contributes $30,000
Q89: In a partnership,are partners liable for the
Q90: Hannah is a managing partner of Andrusian
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