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Management Studies

Erte, a partner in Fluoride Dental Associates, applies for a loan with Great State Bank allegedly on Fluoride's behalf but without the authorization of the other partners. Great State knows that Erte is not authorized to take out the loan. Erte's default on the loan results in:

A) Erte and Fluoride's joint liability for the amount.

B) Erte's sole liability for the amount.

C) Fluoride's sole liability for the amount.

D) neither Erte's nor Fluoride's liability.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9101669

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