Which of the following is incorrect concerning a joint venture?
A)Joint ventures are limited to single projects.
B)Joint venturers are personally liable for its debts.
C)Joint ventures are created much like partnerships.
D)Joint venturers have more implied and apparent authority than do partners in a partnership.

Question

Quizplus · Accepted Answer

The most significant difference between joint venturers and partners is that joint venturers are usually held to have less implied and apparent authority to make contracts for the joint venture than partners,because of the limited scope of the enterprise.

Which of the Following Is Incorrect Concerning a Joint Venture