Partnership agreements often include provisions that excuse partners from liability if they act in good faith and with the honest belief that thei are in the best interests of the partnership. Such a provision is designed to Multiple Choice support honest partnership practices, regardless of whether the risk is reasonable encourage honest partners to take reasonable business risks without fearing liability promote the formation of partnerships eliminate any individual partner liability
Partnership agreements often include provisions that excuse partners from liability if they act in good faith and with the honest belief that thei are in the best interests of the partnership. Such a provision is designed to Multiple Choice support honest partnership practices, regardless of whether the risk is reasonable encourage honest partners to take reasonable business risks without fearing liability promote the formation of partnerships eliminate any individual partner liability
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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
Transcribed Image Text:Partnership agreements often include provisions that excuse partners from liability if they act in good faith and with the honest belief that their actions
are in the best interests of the partnership. Such a provision is designed to
Multiple Choice
support honest partnership practices, regardless of whether the risk is reasonable
encourage honest partners to take reasonable business risks without fearing liability
promote the formation of partnerships
eliminate any individual partner liability
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