Which of the following statements are true regarding joint ventures?

Question

Quizplus · Accepted Answer

A) This statement is true for joint ventures as creditors only have rights against the joint venturer with whom they do business.
B) This statement is also true as a written agreement which is specifically described as a joint venture may be classified by a court as a partnership depending on the terms of the agreement and the way in which the parties conducted their business.
C) This statement is also true as a joint venture is not a separate legal entity and the parties involved remain separate legal entities in their respective capacities.

Which of the Following Statements Are True Regarding Joint Ventures