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Erwin,a Partner in Farm Equipment Rentals & Sales,applies for a Loan

Question 39

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


A) none of the choices.
B) Erwin.
C) Farm Equipment.
D) Garden Valley Bank.

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