Olga is a partner in plentiful foods. in the majority of states, with respect to any partnership obligations that olga does not participate in, know about, or ratify, olga would be liable for

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Nayeli Scott

Social Studies

11 December, 17:44

Olga is a partner in plentiful foods. in the majority of states, with respect to any partnership obligations that olga does not participate in, know about, or ratify, olga would be liable for

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Kamron Perkins · Answer 1

Olga is a partner in Plentiful Foods. In the majority of states, with respect to any partnership obligations that Olga does not participate in, know about, or ratify, Olga would be liable for

A. none of the obligations.

B. all of the obligations, jointly and severally.

C. all of the obligations, jointly but not severally.

D. Only the contractual obligations.

Answer:

. Only the contractual obligations.

Explanation:

By the description in the question, Olga, appears to be a silent partner (a partner who has limited involvement in the management or operation of the business, often limited to provision of capital to the business) in the partnership.

Hence, because of the nature of Olga's interest in the business or partnership, which made him have limited liability that does not go beyond the amount of capital he invested in the business. Thus, he can only potentially lose all his investment in the business but not anything beyond that, as he is immune to any form of legal action that may be placed against the firm or the management of the firm.

Therefore, in this case, Olga is only liable to contractual obligations.