?Lucy is in a partnership. Which of the following statements is not true?
A. ?Lucy shares in the partnership's profits and losses.
B. ?Lucy must give two weeks' notice before withdrawing from the partnership.
C. ?Lucy may withdraw at any time from the partnership.
D. ?Lucy must declare her shares of the partnership's profits on her personal income tax return.
Answer: B
You might also like to view...
The punishment or penalty ordered by a court to be imposed on a person who is convicted of a crime is called:
a. The punishment b. Death c. Probation d. The sentence
Appellant
What will be an ideal response?
The effective date of an owner’s title insurance policy should be the
A. date the deed was signed. B. date of recording of the deed. C. date of title examination. D. date of title commitment.
a. concurrent b. statute of limitations c. condition precedent d. breach e. rescission f. novation g. performance h. accord and satisfaction i. condition subsequent j. impracticability ?Condition that qualifies promise before contractual obligation occurs.
Fill in the blank(s) with the appropriate word(s).