Ask Question
27 September, 14:55

The characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts is called a. unlimited liability b. mutual agency c. dissolution d. ease of formation

+1
Answers (1)
  1. 27 September, 15:02
    0
    a. unlimited liability

    Explanation:

    The partnership is an agreement in which the two or more partners come in an agreement with a motive to share the profit or losses in the profit or losses sharing ratio

    It has various characteristics like

    1. Unlimited liability

    2. Profit and losses sharing

    3. Mutual agency

    4. Easy to form

    5. Lawful in the eyes of law.

    Due to having unlimited liability, the authority would be given accordingly.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers