A partnership is a voluntary and consensual association involving two or more persons. Nobody can be forced to become a partner, although one can engage unwittingly in behavior that gives rise to the creation of a partnership. The Revised Uniform Partnership Act (RUPA) simply describes a partnership as "an association of two or more persons to carry on as co-owners of a business for profit."

Solved

A Partnership Is A

Question 18

Multiple Choice

A partnership is a:

A) limited association in which parties sign a contract expressing their intent to form the partnership.
B) voluntary and consensual association involving two or more persons.
C) voluntary association formed by an express agreement.
D) consensual association that requires the property used in the business be owned by it.

Correct Answer: