Aaron and Yarun were carrying on a take- out pizza business as a partnership and Yarun had bought a car with his own money for use in the partnership business. After a few months, Yarun tells Aaron that he wants to use the car at night and on the weekends, but Aaron says it must be used exclusively for the partnership business. Since the car was paid for by Yarun, he can use it however he likes.

Question

Quizplus · Accepted Answer

In a partnership, assets used for the business, even if purchased by one partner, are typically considered partnership property if intended for partnership use. Yarun may need Aaron's consent to use the car for personal purposes.

Aaron and Yarun Were Carrying on a Take- Out Pizza