Courts sometimes find that a joint venture is a partnership.Which of the following would strongly indicate a business agreement between two parties is a partnership?
A) The parties agreed to share profits and losses.
B) The assets were owned by the parties as 'tenants in common'.
C) Each party had the right to receive a share of the income and to use it for their individual benefit.
D) The agreement was in writing and described as a joint venture.
Correct Answer:
Verified
Q10: Which of the following are rights of
Q11: Which of the following statements is not
Q12: The statutory limit on the number of
Q13: An essential element of a partnership is
Q14: In which of the following cases did
Q15: Which of the following is not a
Q16: Which of the following statements are true
Q17: Partnerships are based on:
A)general (common)law.
B)statute law.
C)contract law.
D)all
Q18: A partnership can be automatically dissolved (terminated)if:
A)loans
Q19: P and B were partners in a
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