Les and Turner entered into a written agreement whereby Turner was to farm Les’s land in exchange for one-third of the crop as rental. The contract also provided that Les was to advance financing and Turner was to furnish the equipment. It was also agreed that after delivery of the one-third of the crops, all net proceeds and losses were to be shared equally. The contract specifically stated that Les and Turner were not partners, but landlord and tenant.

Do you believe Les and Turner are partners? Why or why not?

Answer rating: 100% (QA)

Based on the information provided the arrangement between Les and Turner has elements commonly ass... View the full answer