Marilyn, George, and Christine pool their money to buy land to operate a vegetable farm from which they plan to sell the produce and share the profits or losses. Are they partners?
A) Yes, since they are associating to carry on a for-profit business which they co-own.
B) No, because they each control the use of the land.
C) Yes, because if there is a loss in the land's value, they will all share that loss.
D) No, they are merely joint venturers.
Correct Answer:
Verified
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