Which of the following is the best description of a joint venture?
A) A and B carry on a restaurant business together.
B) A and B own land together, A owns 30% and B owns 70%.
C) A and B own land together in equal parts, their interests are created at the same time and they agree that if either dies, the other person will automatically receive their share.
D) A and B have agreed to stage a concert together and have agreed to share the gross returns, but this is the only time that they will do this.
Correct Answer:
Verified
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