Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 . If a partner does not share the expected responsibility for running the day - to - day operations of a partnership, which of

1. If a partner does not share the expected responsibility for running the day-to-day operations of a partnership, which of the following duties is being violated?
Multiple Choice
Duty of care.
Duty to keep information confidential.
Duty to serve.
Duty not to compete against the partnership.
Duty to account.
2. If a partner refuses to keep reasonable records of all business transacted by him for the partnership or to make such records available to the person keeping the partnership books, what duty has the partner breached?
Multiple Choice
Duty to account.
Duty to act within actual authority.
Duty to serve.
Duty of care.
Duty to keep information confidential.
3. If a partnership wishes to give notice of a particular partner's authority or limitation on a partner's authority, the partnership can file a __ with the secretary of state or the real estate recording office.
Multiple Choice
Statement of Partnership Authority or Statement of Denial
Statement of Purpose
Statement of Limited Liability
Statement of Clarification
Statement of Fact
4. The doctrine that holds a partnership liable for the torts of its partners or employee is the doctrine of:
Multiple Choice
Purported partnership.
Limited partnership.
Res Ipsa Loquitor.
Respondeat superior.
Limited liability partnership.
5. A partner may compete against his partnership if he obtains __ from his other partners.
Multiple Choice
penalization
prognostication
indemnification
ratification
consent

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Handbook Of Asian Finance REITs Trading And Fund Performance

Authors: David Lee, Greg N. Gregoriou

1st Edition

0128009861, 978-0128009864

More Books

Students also viewed these Finance questions