Question
Jonah and Jaycee are partners. Which of the following illustrates the concept of mutual agency?(1 point)
Responses
Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business.
Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business.
Jaycee must have permission from Jonah before engaging in any business transactions.
Jaycee must have permission from Jonah before engaging in any business transactions.
Two partners are equally liable for damages that occurred while conducting business.
Two partners are equally liable for damages that occurred while conducting business.
Neither partner is liable for damages that occurred while conducting business.
Responses
Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business.
Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business.
Jaycee must have permission from Jonah before engaging in any business transactions.
Jaycee must have permission from Jonah before engaging in any business transactions.
Two partners are equally liable for damages that occurred while conducting business.
Two partners are equally liable for damages that occurred while conducting business.
Neither partner is liable for damages that occurred while conducting business.
Answers
GPT-4o mini
The option that illustrates the concept of mutual agency is:
**"Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business."**
Mutual agency means that each partner in a partnership has the ability to act on behalf of the partnership and bind the partnership to agreements and contracts, as long as they are within the scope of the partnership's business activities. Here, both Jonah and Jaycee are taking actions that represent the partnership, which is a key aspect of mutual agency.
**"Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business."**
Mutual agency means that each partner in a partnership has the ability to act on behalf of the partnership and bind the partnership to agreements and contracts, as long as they are within the scope of the partnership's business activities. Here, both Jonah and Jaycee are taking actions that represent the partnership, which is a key aspect of mutual agency.