Reference - Partnership Disruption. Bruce, Sandra, and Minnie want to form a partnership to assist students with resume preparation and employment searches. Bruce asks Sandra and Minnie if they should draw up some sort of agreement. Sandra replies that a written agreement is not legally required and that an oral agreement will set up a partnership. Upon the urging of Bruce and Minnie, however, Sandra agreed to a written agreement. Sandra has an opportunity to assist some students with resumes and does so without revealing her employment to the partnership. She keeps the funds she receives for herself. When Bruce and Minnie found out, Sandra replied that she was doing two-thirds of the partnership work; that she, therefore, had a majority of the voting rights; and that her actions were appropriate. The articles of partnership did not address the right to share in management, but Bruce and Minnie strongly disagreed with Sandra. What is the written agreement creating the partnership entered into by Bruce, Sandra, and Minnie called?
A) Contract of partnership
B) Contract of agreement
C) Partnership articles
D) Articles of partnership
E) Clauses of the articles of partnership
Correct Answer:
Verified
Q29: Which of the following is the term
Q31: Which of the following is true regarding
Q58: Limited partnerships are also known as which
Q61: Which of the following was the result
Q62: The Revised Uniform Limited Partnership Act provides
Q63: Which of the following must a limited
Q64: Which of the following is true regarding
Q65: Which of the following was the result
Q68: In a dissolution of a partnership, if
Q69: Which of the following occurs during a
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