Unanimous consent of the partners is required for:
A)confession of a judgment.
B)borrowing money in a trading partnership.
C)signing checks.
D)none of the above

Question

Quizplus · Accepted Answer

Confession of a judgment refers to admitting to a legal obligation or debt, and it can negatively impact the credit and financial standing of the partnership. Therefore, it is an important decision that requires unanimous consent from all the partners.

Option B is incorrect as borrowing money may be a routine activity in a trading partnership, and it may not always require unanimous consent. Similarly, Option C is also incorrect as it is a common business activity that does not necessarily require unanimous consent. Option D is incorrect as at least some decisions in a partnership require unanimous consent.

Unanimous Consent of the Partners Is Required For