A contractual joint venture differs from a partnership in that
A) there is a fiduciary relationship between the participants.
B) it pools assets and expertise for a business endeavour.
C) it is a relationship for a specific undertaking with a limited duration.
D) profits are retained jointly for use in another project.
E) the liability will be construed to be joint and several.
Correct Answer:
Verified
Q35: The type of unincorporated business that is
Q36: An individual who decides to carry on
Q37: Mike,James,and Mary,advertising consultants,enter into a partnership and
Q38: In a limited partnership,although the limited partner
Q39: A partnership incurs no liability for a
Q41: Partners are generally liable for the torts
Q42: You are interested in creating a business
Q43: The most important restriction on a limited
Q44: What are the advantages of carrying on
Q45: Explain why partners should always have a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents