CPA Reg Quiz
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BUSINESS LAW
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Kim and Jin agree to start a consulting business. They do not sign a written partnership agreement but open a joint bank account under the name "K&J Consulting," to which they both contribute capital. They begin serving clients and splitting the profits. Kim, without Jin's knowledge, signs a one-year lease for an office on behalf of K&J Consulting. The business fails, and the landlord sues both Kim and Jin for the unpaid rent.
What is the extent of Jin's liability for the unpaid rent?
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