Answered

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John and Lisa form a partnership to operate a restaurant. Lisa signs a two-year lease on a space for the restaurant without consulting John. Under the legal concept of ________, John and the partnership are responsible for this lease, although it was only signed by Lisa. ANSWER Unselected unlimited liability Unselected mutual agency Unselected limited life Unselected capital accounting Unselected I DON'T KNOW YET submit

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anthougo

Answer:

John and Lisa form a partnership to operate a restaurant. Lisa signs a two-year lease on a space for the restaurant without consulting John. Under the legal concept of ________, John and the partnership are responsible for this lease, although it was only signed by Lisa.

unlimited liability

Explanation:

The concept of unlimited liability means that business owners are held personally liable for any debt their business might incur.  This concept suggests that all involved business partners and the partnership itself are accountable for the full settlement of the debt, including the use of their personal assets when the assets of the partnership are not sufficient.

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