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Question
MNO was a partnership which contracted for and performed all types of painting jobs. Before the partnership was dissolved, MNO had entered into a contract under which MNO was to paint every room in the state capitol building. At the time of the partnership dissolution, MNO had not yet performed the work called for by such contract. If the partners involved in the winding up elect to perform the contract, they:
A. have the authority to enter into new contracts with subcontractors, material suppliers, and workers.
B. have no authority to enter into new contracts.
C. cannot assign long-term contracts to other contractors.
D. have the authority to enter into new contracts with subcontractors, material suppliers, and workers, but cannot borrow money in order to complete these contracts.
Answer
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