Asked by David Lorea on Mar 10, 2024
Verified
Which of the following statements regarding lawsuits and partnerships is false?
A) A partnership may sue in its own name.
B) Any partner has authority to initiate a lawsuit.
C) A partnership may be sued in its own name.
D) Partners cannot be sued individually on partnership obligations.
Initiate A Lawsuit
The act of formally bringing a legal action against a person or entity, starting the process of litigation.
Partnership Obligations
Duties and responsibilities that partners in a partnership have towards each other and the partnership as a whole, according to the partnership agreement or law.
- Distinguish between the rights and obligations of partners within different types of partnerships.
Verified Answer
SN
Sopheak NeathMar 10, 2024
Final Answer :
D
Explanation :
Under the RUPA,a partnership may sue in its own name.Because suing someone is usually an ordinary business decision,ordinarily any partner has authority to initiate a lawsuit.The RUPA also permits a partnership to be sued in its own name.Partners may also be sued individually on partnership obligations.
Learning Objectives
- Distinguish between the rights and obligations of partners within different types of partnerships.
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