In the absence of a contrary agreement, each partner has which of the following rights?

Question

Quizplus · Accepted Answer

According to the Uniform Partnership Act, in the absence of a contrary agreement, each partner has the right to a share of the partnership profits and the right to take an equal part in transacting the business of the firm. Additionally, partners may also be entitled to compensation for services performed for the partnership, but this depends on the specific terms of their partnership agreement. Therefore, both options B and C are correct, and the answer is D.

In the Absence of a Contrary Agreement, Each Partner Has