A partnership is a: Multiple Choice consensual association that requires the property used in the business be owned by it voluntary and consensual association involving two or more persons. voluntary association formed by an express agreement. limited association in which parties sign a contract expressing their intent to form the partnership The final act of winding up a dissolved partnership is the distribution of assets. True or False True False Statutory law varies from state to state. True or False True False Substantive law comprises rules as to what cases a court can decide, how a trial is conducted, and how a judgment by a court is to be enforced. True or False True False Management of a limited partnership business is in the hands of the limited partner or partners. True or False True False