Persons who are not partners under appropriate circumstances may be held liable to third persons as though they were partners.

Name: Persons who are not partners under appropriate circumstances may be held liable to third persons as though they were partners.
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Question

Quizplus · Accepted Answer

This statement accurately reflects the legal concept of "partnership by estoppel," which allows non-partners who hold themselves out as partners or allow others to believe they are partners to be held liable for partnership debts and obligations.

Persons Who Are Not Partners Under Appropriate Circumstances May Be