Question
36) A partner's duty to serve means the partner can't exceed the authority granted to him by the partnership agreement. the partner must undertake his
36) A partner's duty to serve means
the partner can't exceed the authority granted to him by the partnership agreement. |
the partner must undertake his or her share of responsibility for running the day-to-day operations of the partnership business. |
the partner must maintain the confidentiality of partnership information. |
the partner must account for the use or disposal of partnership funds and property. |
37) A wrongful dissolution results in dissociation of a partner from a partnership. true or false
39)In the absence of an agreement to the contrary, if a partner wrongfully dissociates prior to the end of the term of the partnership, another partner may nonwrongfully dissociate within 100 days of the first partner's dissociation. true or false
40) A winding up partner has implied authority to bind the partnership in any transaction necessary to liquidate partnership assets, but he or she has no authority to borrow money in the name of the partnership. true or false
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