Question: A third person should recognize that a partner has limited or no authority if: 1. the partner seeks to act for the partnership concerning a

A third person should recognize that a partner has limited or no authority if:

1. the partner seeks to act for the partnership concerning a matter not within the usual business of the firm.

2. the third person knows that the partnership has been terminated.

3. the partner seeks to pay a personal obligation by issuing a promissory note in the name of the firm.

4. all of the above.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1. In the absence of partnership agreement to the contrary, what is the obligation of the partners as regards to capital contribution? a. Equally b. Based on their loss agreement c. Based on their...

Q:

1. In the absence of partnership agreement to the contrary, what is the obligation of the partners as regards to capital contribution? a. Equally b. Based on their loss agreement c. Based on their...

Q:

1. In the absence of partnership agreement to the contrary, what is the obligation of the partners as regards to capital contribution? a. Equally b. Based on their loss agreement c. Based on their...

Q:

1. In the absence of partnership agreement to the contrary, what is the obligation of the partners as regards to capital contribution? a. Equally b. Based on their loss agreement c. Based on their...

Q:

Do the reading assignment and then look up KRS 275.520 and read its text.Then answer the questions below. Fully explain your answers: 1.What is the taxation advantage of a LLC as opposed to a...

Q:

One of the vexing problems in partnership law involves management rights in partnerships with only two partners. In the event of an internal dispute about a matter of partnership business, William...

Q:

One of the vexing problems in partnership law involves management rights in partnerships with only two partners. In the event of an internal dispute about a matter of partnership business, William...

Q:

ROACH v. MEAD Email|Print|Comments (0) CC A8303-01681; CA A32821; SC S32368, S32382. View CaseCited CasesCiting Case 722 P.2d 1229 (1986) 301 Or. 383 William ROACH, Petitioner on review/Respondent on...

Q:

Chapter 38 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Q:

COURT OF APPEAL FOR BRITISH COLUMBIA Citation: Equustek Solutions Inc. v. Google Inc., 2015 BCCA 265 Date: 20150611 Docket: CA41923 Between: Equustek Solutions Inc., Robert Angus and Clarma...

Q:

The time (f) it takes a person to travel to work riding his bicycle varies inversely as his speed (s). It takes the person 1.5 hours to get to work with an average speed of 10kph. How long would the...

Q:

Let B be an n x n matrix. Suppose AB = 0 for some nonzero m n matrix A. Show that no n n matrix C exists such that BC = I.

Q:

reasonably assured, with no additional costs to be incurred by Carla Vista. Click here to view the factor table PRESENT VALUE OF 1 . Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF...

Q:

Using table 1 1 one as a guide identify 5 to 7 skills that your employees will need at a sporting event facility and why they are important to the specific facility

Q:

2 D o you think 3 60-d egree appraisals work as a developmental and t eam-b uilding exercise in addition to assessing performance in sales? Why, or why not? Suntrust Bank, with total assets of $173....

Q:

1 Do you think that the approach adopted in this case would be as successful in other settings where there is less integration, e. g. in a networked organisation (see Chapter 3)? The organisation...

Q:

If you were advising Ron Brown, would you recommend that he implement the professors skill-based pay and incentive pay plan as is? Why? Would you implement it with modifications? If you would modify...