Multiple Choice
A disadvantage of a partnership is that of 'mutual agency' which means:
A) each partner has limited liability for the debts incurred on a contract entered into by any other partner.
B) each partner must contribute the same capital and skills to the partnership.
C) each partner has the right to enter into contracts on behalf of the partnership.
D) only the partner with the highest cash contribution has the right to enter into contracts on behalf of the partnership.
Correct Answer:
Verified
Correct Answer:
Verified
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