Multiple Choice
Sharon and Martha are general partners in the SM general partnership.Sharon,acting with authority,negotiated and signed for a $500,000 loan to SM from a bank.SM has not repaid this loan.The bank can recover its loan from:
A) Sharon only.
B) SM and Sharon;they are jointly liable only.
C) SM,Sharon,and Martha;they are jointly liable only.
D) SM,Sharon,and Martha;they are jointly and severally liable.
Correct Answer:
Verified
Correct Answer:
Verified
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