Instead of suing the partnership or other partners at law, general partners are given the right to bring a(n) ________ against other partners.
A. claim for damages
B. tort action
C. call for action
D. action for an accounting
Answer: D
You might also like to view...
Which of the following actions is MOST likely to create a wrongful discharge claim?
A. Terminating an employee only if there is an articulated reason B. Setting and following termination rules and schedules C. Documenting all performance problems D. Making exceptions to the rules in unique circumstances
Which of the following is a duty of an agent to a principal?
a. Diligence b. Reimbursement c. Indemnification d. Compensation
Brett's, Inc expects to have $35 million in credit sales during the coming year. In spite of a national distributing
system, all remittances are sent to the home office. A proposed system can eliminate 3 days of float, releasing funds which, when invested, will earn 6.5 percent. What annual savings can Brett's, Inc expect if the system is implemented? Use a 365-day year.
Which of the following statements is CORRECT?
A. Hedge funds are legal in Europe and Asia, but they are not permitted to operate in the United States. B. Hedge funds are legal in the United States, but they are not permitted to operate in Europe or Asia. C. Hedge funds have more in common with investment banks than with any other type of financial institution. D. Hedge funds have more in common with commercial banks than with any other type of financial institution. E. Hedge funds are not as highly regulated as most other types of financial institutions. The justification for this light regulation is that only "sophisticated" investors (i.e., those with high net worths and high incomes) are permitted to invest in these funds, and these investors supposedly can do any necessary "due diligence" on their own rather than have it done by the SEC or some other regulator.