What is the characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts called? Group of answer choices unlimited liability ease of formation dissolution mutual agency
What is the characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts called? Group of answer choices unlimited liability ease of formation dissolution mutual agency
What is the characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts called? Group of answer choices unlimited liability ease of formation dissolution mutual agency
What is the characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts called?
Group of answer choices
unlimited liability
ease of formation
dissolution
mutual agency
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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