A partnership agreement:
A) Is also called the articles of incorporation.
B) Does not generally address the issue of the rights and duties of the partners.
C) Is the same as a limited liability partnership.
D) Is not binding unless it is in writing.
E) Is binding even if it is not in writing.

Question

Quizplus · Accepted Answer

A partnership agreement is binding even if it is not in writing, as oral agreements can be legally enforceable. However, having a written agreement is advisable for clarity and to avoid disputes.

A Partnership Agreement