$1.$ Frank is a partner in a partnership. He is not doing the work expected of him as a partner, so the partnership hired someone else to do Frank$$s work. Which of the following duties did Frank breach?

Multiple Choice

Duty to serve.

Duty to act with actual authority.

Duty of care.

Duty not to compete against the partnership.

Duty to keep information confidential.

$2.$ If a partner competes against the partnership, without the consent of his partners, what remedy does the partnership have?

Multiple Choice

The partnership has the remedy of seeking treble damages in federal court.

The partnership has the remedy of confiscating the partner's house.

The partnership has the remedy of charging the partner with a crime.

The partnership has the remedy of recovering the profits from the partner's competing venture.

The partnership has the remedy of garnishing the partner's wages and liquidating his retirement fund.

$3.$ What duty may have been breached if a partner, while transacting partnership business, makes a decision that costs the partnership to lose money, unless the partner had carefully investigated and believed in good faith that she was acting in the best interests of the partnership?

Multiple Choice

Duty to serve.

Duty to act within actual authority.

Duty to account.

Duty of confidentiality.

Duty of care.

$4.$ A partner will not be held liable for:

Multiple Choice

Losses resulting from reckless conduct.

Losses resulting from gross negligence.

Losses resulting from intentional misconduct.

Losses resulting from honest errors in judgment.

Losses resulting from a knowing violation of the law.

$5.$ If a partner exceeds the authority granted to him by the partnership agreement and losses result from his unauthorized transactions, what duty has he breached?

Multiple Choice

Duty to serve.

Duty to act within actual authority.

Duty to keep information confidential.

Duty not to compete against the partnership.

Duty to account.