Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A, B and C are partners in SBU Enterprises. Not having established yet their credit standing, the three partners requested D, a well-known businessman, to

A, B and C are partners in SBU Enterprises. Not having established yet their credit standing, the three partners requested D, a well-known businessman, to help them negotiate a loan from E, a money lender. With the consent of A, B and C, D represented himself as a partner of SBU Enterprises. Thereafter, E granted a loan of P150,000 to SBU Enterprises. What kind of a partner is D?*

a. Ostensible partner

b. Liquidating partner

c. Managing partner

d. Partner by estoppel

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

Law for business and personal use

Authors: John E. Adamson

18th edition

538445887, 538445882, 9781111803131 , 978-0538445887

More Books

Students also viewed these Law questions

Question

Define self-discipline and cite its benefits.

Answered: 1 week ago

Question

An improvement in the exchange of information in negotiations.

Answered: 1 week ago