The ________ requires general partners to adhere to the provisions of the partnership agreement and the decisions of the partnership
A) duty to inform
B) duty of loyalty
C) duty of care
D) duty of obedience
D
You might also like to view...
Rich Electronics sells various brand name televisions and stereos at discount prices. Rich maintains a large inventory which it obtains from various manufacturers on credit. These manufacturer-creditors have all filed and taken security interests in the goods and proceeds which they sold to Rich on credit. Rich in turn sells to hundreds of ultimate consumers; some pay cash but most buy on credit. Rich takes a security interest but does not file a financing statement for credit sales. Which of the following is correct?
A. Since Rich takes a purchase money security interest in the consumer goods sold, its security interest is perfected upon attachment. B. The appliance manufacturers can enforce their security interests against the goods in the hands of the purchasers who paid cash for them. C. A subsequent sale by one of Rich's customers to a bona fide purchaser will be subject to Rich's security interest. D. The goods in Rich's hands are consumer goods.
A process employing an independent agent to manage the closing of a real estate transaction through the exchange of documents and money between two parties is referred to as:
a. a title search. b. escrow. c. underwriting. d. pre-approval.