Chapter 10

The Partnership Act provides that if the partners do not agreeotherwise, certain terms of a partnership agreement will be implied. Which of the following is not such an impliedterm?

A.

The partners will share the profits equally.

B.

Each partner shall be responsible for the losses of the firm only to the limit of thatpartner's initial cash contribution.

C.

Every partner may take part in the management of the partnership business.

D.

No person may be introduced as a new partner without the consent of all of the existing partners.

Partners are vicariously liable for the wrongful acts of employees committed in partnership business.

True

False