Zeno,Zella,and Zorro wish to form a partnership.Zeno is putting up 60% of the capital;Zella is putting up 40%,and Zorro is putting in no capital but will manage the business.In the absence of a provision in the partnership agreement,how will the liability and profits be distributed?

Question

Quizplus · Accepted Answer

In the absence of a specific agreement, profits and liabilities in a partnership are typically shared equally among partners, regardless of capital contribution or work input.

Zeno,Zella,and Zorro Wish to Form a Partnership