An interest in a general partnership is a form of a security under the 1933 Act. Question 12 options: True False
Q: QUESTION 10 In order for a corporation to open a cash account, it would need to send a brokerage…
A: These are certain concept based mcq questions related to broker accounts, etc.
Q: QUESTION 4 Section 16(1)(a) of the Sale of Goods Act 1957 provides for implied condition as to fit…
A: The Sale of Goods Act 1957 is a significant law in Malaysia that oversees the buying and selling of…
Q: Question 11 options: True False In order to agree to an offer, the offeree must know of the…
A: When an individual either agrees or denies to perform or not perform any act, along with obtaining…
Q: OA B. ●C. OD. of the following provisions of an individual Accident and Health policy nonpayment of…
A: The question is asking which provision in an individual Accident and Health policy covers the…
Q: The National Association of Insurance Commissioners (NAIC) is housed in the U.S. Department of…
A: The National Association of Insurance Commissioners (NAIC) is known as an important organization in…
Q: The normal rule is that after a specified period of time, insurance companies cannot contest the…
A: The normal rule says that after a specific period of time, insurance companies cannot contest the…
Q: The fraud-on-the-market theory creates a presumption of securities fraud based on plaintiff's…
A: Shares refer to the units of the stocks of a company or entity that represent the ownership stake.…
Q: One of three tenants in your insured's rented triplex, sets fire to his apartment, is charged with…
A: Cancellation of Insurance Policy: Cancellation of an insurance policy refers to the termination or…
Q: Question 1 Due to the conflict of interest, in publicly held companies, directors of a corporation…
A: The role of the board of directors is to provide strategic direction for the corporation, make major…
Q: In 2010, Drow creates an irrevocable trust with $1,000,000 of securities Under the terms of the…
A: An irrevocable trust is a type of trust which cannot be altered, modified, or revoked once it has…
Q: Under a Personal Auto pollicy, a temporary substitute automobile is an auto that iss OA fomnished…
A: The objective of the question is to identify the correct definition of a 'temporary substitute…
Q: What is the meaning of caveat emptor?
A: Caveat Emptor is the Latin word which means “Let the buyer beware” Under the principle of caveat…
Q: The projected growth in buyer demand for private-label athletic footwear is Cooght by Co-Bus…
A: Expected growth is when we think something will get bigger over a certain amount of time. In…
Q: Which one (1) of the following statements is true about coverage for loss or damage caused by an…
A: Insurance is a type of contract in which the insurer re-imburses the poilyc holders of the financial…
Q: Alf sells prestige used cars. In the window of his office showroom Alf displays a whiteboard. On…
A: The objective of the question is to understand the legal concepts of 'offer' and 'invitation to…
Q: Acceptance to an offer must be done expressly by stating your acceptance to the offer. Question 1…
A: You have posted multiple questions, as per the authoring guidelines we will be answering the first…
Q: Q.23. What are the essential elements of a valid contract?explain elaborately?
A: Agreements refer to the act of agreeing to something. An agreement refers to a promise or set of…
Q: 11 which of the following types of insurance best satisfies the need for permanent insurance…
A: The objective of the question is to identify the type of insurance that best satisfies the need for…
Q: alcohol will automatically have the choice to make void any contract entered into while under the…
A: Since you have posted multiple questions, we will solve the first 3 questions for you as per our…
Q: answer quickly as soon as possible
A: Contract is a legally binding agreement which can be entered between two parties in an arms length…
Q: 68. if a policy loan is not repaid A Nonforfeiture is activated Interest on the loan accrues The…
A: The question is asking about the consequences of not repaying a policy loan. A policy loan is a loan…
Q: Question 1: If John picked up goods from Steve, and while tranporting them to Bob, the trailer was…
A: Goods in transit can be defined as the inventory stock or items that have been shipped or dispatched…
Q: Under the UCC, a firm offer only applies to Group of answer choices merchants. merchants and…
A: The uniform commercial code contains various laws pertaining to commercial business activities.…
Q: Robert uses a portion of Eric's property in such a manner that he's five years away from adversely…
A: Please find the answer as well as its appropriate reason in the next step and incorrect answers…
Q: Which one (1) of the following poticy? OA) If the amount of the los greater than the deduct من From…
A: In the context of property insurance, a deductible clause is a crucial component that outlines the…
Q: Question 16 What a party said when entering into a contract is a subjective fact. True False
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The sale or transfer of a partner's transferable interest is a(n) act of the partner. Multiple…
A: each partner in a limited partnership holds transferable interest as a personal property or right of…
Q: Handwritten words are given less importance by the court than preprinted words on a written…
A: Please find the explanations below.
Question 12 options:
| True | |
|
False
|
A general partnership is a type of business arrangement in which two or more individuals or entities own and operate a profit-making business together. In a general partnership, the partners share in the business's management, profits, losses, and legal liabilities. This means that each partner is personally liable for the financial and legal responsibilities of the partnership. Because they do not necessitate elaborate formalities or substantial legal documents, general partnerships are generally straightforward to organize and administer. They do, however, involve shared obligations and risks among partners, making it critical for partners to have a clear partnership agreement outlining the conditions of the partnership, including profit-sharing, decision-making, and dispute resolution.
Step by step
Solved in 3 steps
- Pls help with below homework.Question9  Under the modified accrual basis of accounting: a. Revenues are recognized at the time an exchange transaction occurs. b. Expenses are recognized when an obligation occurs for costs incurred in providing services. c. Expenditures are recognized as the cost of an asset expires or is used up in providing governmental services. d. Revenues are recognized when current financial resources become measurable and available to pay current-period obligations.There does not need to be any exchange of words for there to be an implied contract. Question 24 options: True False When an illegal contract is executed upon, the court normally will leave the parties where it finds them even if partial performance has occurred. Question 25 options: True False A person who has injested drugs or alcohol will automatically have the choice to make void any contract entered into while under the influence. Question 6 options: True False
- Kelly Clarkson moved from unincorporated Nashville which is in Davidson County to Atlanta without selling her house. Blake found out she moved and asked if he could purchase the property if the City decides to incorporate the house into the City of Nashville. Kelly agreed and the contract stated that if the City of Nashville incorporates the house into the City then Kelly would sell the house to Blake. This is an example of _________. Question options: An options contract A dumb move A condition subsequent A condition precedentQuestion 3 Buyer and seller enter into a clear contract. The buyer refuses to purchase for a reason not excused by a contingency. Which statement is correct? A - The seller is entitled to damages the buyer caused, which are taken from either the earnest money deposit or the 20% down payment. B - The original buyer gets the earnest money deposit back as soon as there is a new offer. C - The seller has the right to terminate the contract and keep the earnest money deposit. D - The seller has the right to keep 20% of the down payment on property.A suburban office building in Fort Worth, Texas with 36,000 square feet was purchased for $4,500,000 at an 8% cap rate. Debt service for the first year was $305,000 of which $236,000 was interest and $69,000 was principal. Annual depreciation for tax purposes was $148,000. What was the property’s first year taxable income? a. $124,000 b. $212,000 c. - $24,000 d. $55,000
- Incorrect Question 7 After you finish speaking at a business law conference, an eager fan asks you how long is an offer considered open for acceptance by the offeree. Your pithy reply is which of the following? Unless the terms of the offer state otherwise, the offer is open for a reasonable amount of time. Indefinitely, until the offeror revokes or rescinds it. Only 10 days, no exceptions. 30 days unless the parties agree otherwise.Pls help ASAPQuestion 13 A party contracts to guaranty the collection of the debts of another. As a result of the guaranty, the creditor, upon debtor's default, can immediately proceed against the guarantor without further notice. True False Question 14 Hudson National Bank files a financing statement regarding a transaction with EcoVibes. To be valid, the financing statement must contain both the debtor's and creditor's signatures. True False Question 15 The Truth-In-Lending Act applies to all merchants that sell consumer goods. True False