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Business Law Today Standard Text
Quiz 27: All Forms of Partnership
Path 4
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Question 41
Multiple Choice
Fact Pattern 27-2 Kristin and Lindsey are partners in Mobile Devise, an online marketing firm. -Refer to Fact Pattern 27-2. Kristin signs a contract with Nature's Best Chocolate, a candy maker and seller, apparently on Mobile's behalf. The contract is binding on
Question 42
Multiple Choice
Erwin, a partner in Farm Equipment Rentals & Sales, applies for a loan with Garden Valley Bank allegedly on Farm Equipment's behalf but without the authorization of the other partners. The bank knows that Erwin is not authorized to take out the loan. Liability in the event of default will be imposed on
Question 43
Multiple Choice
Blythe and Cali do business as Diamond Investments. In acting on the firm's behalf, Blythe makes an honest error in overestimating the value of a particular stock purchase. To her firm, Blythe is
Question 44
Multiple Choice
Rosalee is a partner in Silver Dragon, a partnership consisting of the owners of a Chinese and American restaurant. Silver Dragon incurs debt for new dining tables and chairs. With respect to this debt, Rosalee is