Sage Smith works as a laser technician for a local dermatology center consisting of physicians operating under a partnership agreement.Sage purchased supplies through the mail from a medical supply facility totaling $5,000,signing the contract agreeing to pay for the supplies under the name,Sage Smith.A few weeks later the dermatologists became embroiled in a bitter dispute regarding profits and terminated the partnership.Unfortunately,the partners were not aware of the debt owed to the medical supply facility; and the bill remained unpaid.Sage received a bill from the supply company for $5,000.Is Sage liable to the medical supply company,and why or why not?
A) No,because Sage was only employed as a technician.
B) No,because the medical supply facility should have asked for proper identification.
C) Yes,because the contract was signed in Sage's name.
D) Yes,but only because the partnership terminated.
Correct Answer:
Verified
Q49: Define a joint venture and list the
Q50: Which of the following is false regarding
Q51: _ of a general partnership occurs when
Q52: A(n)_ is a for-profit corporation that uses
Q53: Five accountants have formed an organization within
Q55: Which of the following statements is true
Q56: When a third party,based on all of
Q57: A shareholder who cannot be present at
Q58: In most states,partnership agreements may:
A) not alter
Q59: A _ is a public offer to
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