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1-year bachelor's

Question 1

In resolving disputes over whether a business enterprise may be characterized as a partnership, a court will look to see whether the existing business relationship involves:

Question 2

Earl owes the Circle Ranch (a partnership) $1,000. Earl agrees to pay the Ranch a percentage of his profits until the debt is paid. Because of this, the Ranch is Earl's:

Question 3

Fred and Barney are the only partners in a business. John obtains a judgment against the partnership. The liability of the partnership must first be paid out of assets owned:

Question 4

Al and Betty agree while talking on the telephone to form a partnership. Their partnership agreement is legally binding:

Question 5

Hugh and Cray are partners. Without Hugh's knowledge, Cray commits fraud on behalf of the partnership that results in default on 2 bank loans. Regarding the loans, Hugh is:

Question 6

A decision by the members of a partnership to enter an entirely new business would probably have to be approved by;

Question 7

Stacey, a partner in an architectural firm, owes $40,000 personally to several creditors. To satisfy these debts, the creditors may obtain a charging order entitling them to:

Question 8

Al and Ed are partners. Ed dies. Anita, Ed's widow, files suit to get Ed's desk and chair. The fact that these were purchased by the partnership will:

Question 9

In general, a partner who devotes his time and energy to partnership business will

Question 10

Erica is a partner in a firm and applies for a loan for the partnership without authorization from the other partners. If the bank knows Erica is not authorized then:

Question 11

Ben is admitted to an existing partnership. Several debts and obligations incurred prior to the date of his admission become due. Ben is: