Asked by Christin Sajan on Apr 28, 2024
Verified
When partners disagree concerning an action to be taken in the ordinary course of business,the disagreement will be resolved only if all the partners agree.
Course of Business
The routine practices and activities that a business engages in as part of its normal operations.
Ordinary Course
Activities that are considered part of the usual operations of a business or organization.
Partners Agree
The mutual consensus among all partners in a business venture on a particular decision, action, or strategy.
- Understand the basic principles of partnership agreements and how disagreements are resolved.
Verified Answer
EP
Elizabeth PedersenApr 29, 2024
Final Answer :
False
Explanation :
When partners discuss a prospective action,they will usually vote on what action to take.On matters in the ordinary course of business,the vote of a majority of the partners controls ordinary business decisions and,thereby,limits the actual authority of the partners.
Learning Objectives
- Understand the basic principles of partnership agreements and how disagreements are resolved.
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