ANSWERS-CH37 - Having failed to voice his objection at the...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 37 INTRODUCTION TO FORMS OF BUSINESS AND FORMATION OF PARTNERSHIPS ANSWERS TO CHAPTER 37 True-False Multiple Choice 1. T 2. T 3. F 4. T 5. T 6. T 7. F 8. F 9. T 10. T 11. d 12. a 13. d 14. a 15. a 16. d 17. b 18. a 19. c 20. a Short Essay 21. A is liable because the individual partners and the partnership are liable for a tort committed by a partner within the scope of the partnership business. 22. George-Boy is liable for the debt because of the operation of the purported partnership doctrine. When Mr. Busch made the partnership representation in the presence of the wholesaler's representative, George-Boy had the duty to speak up and correct the record if he did not wish to be bound as a partner would be.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Having failed to voice his objection at the time, George-Boy must now face the consequences. It makes no difference, with regard to the question of his liability to the wholesaler, that George-Boy later told his father he would not be liable for any of his father's debts. 23. Monella is incorrect. His business is a sole proprietorship, which is not its own separate legal entity. Monella faces unlimited personal liability for debts connected with his restaurant business. Answers to Student Study Guide and Workbook Questions 62...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online