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1. Mutual agency means that actions of one partner are not binding on the other. 2. Unlimited liability means that partners have limited liability. 3.

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1. Mutual agency means that actions of one partner are not binding on the other. 2. Unlimited liability means that partners have limited liability. 3. Articles of partnership are never written. 4. A partnership itself does not pay taxes. 5. Co-ownership means that all partners share all assets of the partnership. 6. A charter is issued by the corporation. 7. Bankruptcy could affect the unlimited life of a corporation. 8. Stock transfer represent a shift in ownership. 9. A corporation is not a separate legal entity. 10. A corporation is not subject to mutual agency. I Note whether each statement above is true or false

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