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Question
Chris and Paul operate a business in which both have contributed $50,000 to the businesses capitalization. Chris makes all business decisions and Paul made Chris sign a partnership agreement saying that Paul is only liable for partnership debts up to $50,000.A.both are general partners
B.Chris is a general partner and Paul is a limited partner
C.Paul is a general partner and Chris is a limited partner
D.both are limited partners
Answer
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Related questions
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Which of the following involves a third party substitution?
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B.accord and satisfaction
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In Mobil Oil Exploration & Producing Southeast, Inc. v. United States:
A.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the original contract amounting to repudiation by the United States.
B.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the contract, barring certain types of oil exploration, frustrating Mobil's contractual purpose.
C.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, they had not yet filed their oil excavation plan so they could not know whether they were facing a problem.
D.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, it did not substantially change the terms of the original contract.
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A.accord and satisfaction.
B.novation.
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Q:
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Q:
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