Mark and James established a partnership to deal in textiles. Both of them contributed equal capital to the partnership. Which of the following is true?
A)Mark and James have the right to participate in the management of the partnership
B)Mark can be held liable for James committing robbery.
C)Neither Mark nor James has the authority to bind the partnership without the signature of the other.
D)Neither Mark nor James has the authority to endorse checks without the signature of the other.

Question

Quizplus · Accepted Answer

In a partnership, all partners have the right to participate in the management of the partnership unless otherwise agreed upon. This is a fundamental principle of partnerships, allowing each partner to have a say in the business operations.

Mark and James Established a Partnership to Deal in Textiles