A partnership Involves an association between two or more persons to carry on a business as co-owners for profit. Items 1 through 10 relate to partnership agreements. The statement of facts for Parts A and B are followed by numbered sentences that state legal concluslons relating to those facts. Determine whether each legal conclusion is correct or not and mark It with the word yes for correct, or no for not correct. Required: Part A Adams, Webster, and Coke were partners In a construction business. Coke decided to retire and found Black, who agreed to purchase his interest. Black was willing to pay Coke $20,000 and promised to assume Coke's share of all firm obligations. Part B Carson, Crocket, and Kitt were partners in an Importing business. They needed additional capltal to expand and located White, who agreed to purchase a one-quarter Interest in the partnership by contributing $50,000 in capltal. Before White became a partner, several creditors had loaned money to the partnership. The partnership subsequently falled, and the creditors are now attempting to assert personal llability against White. Complete this question by entering your answers in the tabs below. Adams, Webster, and Coke were partners in a construction business. Coke decided to retire and found Black, who agreed to purchase his interest. Black was willing to pay Coke $20,000 and promised to assume Coke's share of all firm obligations. Complete this question by entering your answers in the tabs below. Carson, Crocket, and Kitt were partners in an importing business. They needed additional capital to expand and located White, who agreed to purchase a one-quarter interest in the partnership by contributing $50,000 in capital. Before White became a partner, several creditors had loaned money to the partnership. The partnership subsequently failed, and the creditors are now attempting to assert personal liability against White