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Which of the following is NOT a consequence of being a partner in a partnership?

    a. Partners are agents of each other.

    b. Each partner owes a fiduciary duty to the partnership and the other partners.


    c. Each partner owns a portion of the value of the business.


    d. Partners are not liable for each other's torts.

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    2.Which of the following is incorrect concerning a joint venture?



    A.Joint venturers are personally liable for the venture's debts.


    B.Joint venturers have more implied and apparent authority than partners.


    C.Joint ventures are limited to a single project.


    D.Joint ventures are created much like partnerships.


    3.If a third party deals with a person who appears to be the partner of another person, and the third party is harmed, it may recover damages under

    A. the doctrine of purported partners


    B. the doctrine of respondeat superior


    C. the general law for joint ventures


    D. the doctrine of direct liability

     

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    Which of the following is NOT a consequence of being a partner in a partnership? a. Partners are agents of each other. b. Each partner owes a
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