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Which of the Following Is False Regarding the Rights and Obligations

Question 2

Multiple Choice

Which of the following is false regarding the rights and obligations of partners?


A) As long as one partner has authority to act and the partnership is bound by the act,each partner has unlimited personal liability for the obligation.
B) As long as the partner has authority to act,each partner's act in making agreements with third parties is binding on the partnership.
C) As long as the partner has authority to act,each partner's act in performing business duties is binding on the partnership.
D) Each partner can serve as an agent for the partnership.
E) A partner cannot serve as an agent for other partners.

Correct Answer:

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