What would it indicate to you if you see the letters “L.S.” in the corner of a contract?

		It is a Uniform Commercial Code contract
		It is a unilateral contract
		It is an invalid contract
		It is a formal contract

 

 

Question 36

Limited partners in a limited partnership are permitted to manage the partnership.

 True

 False

 

Question 37

Which of the following best defines an equal dignity statute?

		A statute that authorizes agents to act on the behalf of their principal without authorization by their principal
		A statute that requires that if the contract being executed is or must be in writing, then the agent’s authority must also be in writing
		A statute that requires that governments avoid discriminating against individuals in business, based on race
		A statute that requires that all principals avoid discriminating against their agents on the basis of race

Answer rating: 100% (QA)

Correct D It is a formal contract Locus Sigilli Latin for the place of the seal denotes the ... View the full answer