Which of the following statements is INCORRECT regarding partnership agreements?
A) Common law provinces are governed by the Partnership Act.
B) Oral agreements are preferable to written articles.
C) It should specify the different relationships that are to exist among the partners.
D) It should state procedures for submitting disputes to arbitration.

Question

Quizplus · Accepted Answer

Oral agreements are not preferable to written articles in the context of partnership agreements. Written agreements provide a clear, legally binding document that outlines the terms, conditions, and expectations for the partnership, reducing the potential for misunderstandings or disputes.

Which of the Following Statements Is INCORRECT Regarding Partnership Agreements