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Question
Which of the following statements is true of partners in a nontrading partnership?
A. The partners are usually engaged in the business of selling and buying commodities.
B. The partners have an implied authority to pledge the credit of the firm.
C. The partners have no implied power to borrow money.
D. The partners are exempt from showing any actual power for the firm to be bound.
E. The partners are allowed to conduct any business transaction regardless of the authority vested in them.
Answer
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