Which of the following statements is true of formation of general partnerships?
A) It is safer to get everything in writing and to seek expert legal assistance when drawing up an agreement than verbally agreeing.
B) It is legally not possible to start a partnership on the basis of a verbal agreement.
C) There is a limit on the number of partners who can participate in a general partnership.
D) A general partnership is formed when partners enter into an involuntary partnership agreement.
Correct Answer:
Verified
Q34: Red Tide Inc., an electronics manufacturer, merges
Q35: Cella, a clothing manufacturer, has licensed Crux
Q36: In a carve-out, a firm:
A)distributes the stock
Q37: Which of the following best describes a
Q38: A _ is a type of franchising
Q40: The nature of work and the work
Q41: A _ is a contractual arrangement between
Q42: The basic rules governing how a corporation
Q43: Identify and explain two advantages and two
Q44: Mention the advantages and limitations of nonprofit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents