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QUESTION 5 The principal legal duties imposed upon partners in their relations with one another include: a. a duty to vote for candidates that
QUESTION 5 The principal legal duties imposed upon partners in their relations with one another include: a. a duty to vote for candidates that will help the business. Ob. a duty to devote full time and expertise to the partnership. c. the duty to compensate other partners for their time and efforts spent on partnership business. Od. the fiduciary duty or the duty of loyalty. QUESTION 6 In deciding whether property owned by a partner before formation of the partnership and used in the business is a capital contribution that belongs to the firm, a court will consider which of the following? Oa. Whether the property was improved with partnership funds Ob. Whether the property was carried on the books of the partnership as an asset OC Admissions or declarations of the partners Od. All of these would be considered. QUESTION 7
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