This topic contains a solution. Click here to go to the answer

Author Question: With regard to the liability of partners, which of the following is false? (Read 64 times)

audragclark

  • Hero Member
  • *****
  • Posts: 579
With regard to the liability of partners, which of the following is false?
◦ A limited partner is liable only for the amount of his initial investment if he follows the directions set out in the Partnership Act (e.g., not taking part in management).
◦ A general partner could not be liable for losses suffered by a client because of misapplication of funds unless he knew about or took part in the misapplication.
◦ A general partner who retires from the partnership by giving notice of his leaving to the other partners could still be found liable for debt pursuant to a contract made when he was a partner.
◦ The partnership, and thus the partners, is liable for any loss suffered because of a tort committed by its employee in the course of employment.
◦ A general partner has unlimited liability for any loss suffered because of the negligent act (e.g., omission) of one of his partners if there are insufficient funds in the partnership to pay the person who suffered the loss.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by audragclark on Aug 7, 2021

ngr69

  • Sr. Member
  • ****
  • Posts: 318
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly




audragclark

  • Member
  • Posts: 579
Reply 2 on: Aug 7, 2021
Wow, this really help


ktidd

  • Member
  • Posts: 319
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

For a complete list of videos, visit our video library