A partnership is primarily a contractual relationship and can be created verbally or implied from conduct.
Correct Answer:
Verified
Q127: The partners can change the terms of
Q128: The Partnership Act allows partners to change
Q129: It is possible through a partnership agreement
Q130: Unlimited liability means that an investor can
Q131: A partner's liability for the torts of
Q133: The unlimited liability of partners means that
Q134: Although the sole proprietor's entire personal fortune
Q135: For a partnership to exist, something more
Q136: Dennis, Sam, George, and Ray were partners
Q137: A partnership is less expensive to set
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