Question
Kirra takes out a $25,000.00 loan from the bank to buy a new piece of equipment.Which statement is incorrect: a.If their partnership agreement says that
Kirra takes out a $25,000.00 loan from the bank to buy a new piece of equipment.Which statement is incorrect:
a.If their partnership agreement says that Kirra is not permitted to enter into contracts without the knowledge and consent of Jarrah, then only Kirra is liable to pay back the loan.
b. If their partnership agreement says that Kirra is not permitted to enter into contracts without the knowledge and consent of Jarrah, then Kirra has c. violated their partnership agreement. But both Kirra and Jarrah remain liable to the bank to pay the loan back.
Kirra and Jarrah are joint and severally liable to pay back the loan.
d. All are correct.
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