Question: Can a partnership exist when the parties specifically state they are not partners? Maybe, but only if the partners were not being truthful about their

Can a partnership exist when the parties specifically state they are not partners?
Maybe, but only if the partners were not being truthful about their intent to be partners
No, because partnership requires formal registration with the government
Yes, because a partnership is the default business organization
No, because the intent of businesspeople is always the deciding factor
Yes, because a partnership can occur without the intent of the partners

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Arturo, an NRA, is a 7% shareholder of USCO, a Pennsylvania company ("PCO") that makes furniture. Arturo's US citizen friend from when they were students at Penn State owns 80% of PCO, Arturo's...

Q:

Can a partnership exist when the parties specifically state they are not partners? a.) Maybe, but only if the partners were not being truthful about their intent to be partners b.) Yes, because a...

Q:

Busniess Law 1. Can a partnership exist when the parties specifically state they are not partners? Yes, because a partnership can occur without the intent of the partners Yes, because a partnership...

Q:

Do the reading assignment and then look up KRS 275.520 and read its text.Then answer the questions below. Fully explain your answers: 1.What is the taxation advantage of a LLC as opposed to a...

Q:

Page 465 Mich. 637, *; 641 N.W.2d 210, **; 2002 Mich. LEXIS 465, *** 1 of 1 DOCUMENT Byker v. Mannes No. 116380 SUPREME COURT OF MICHIGAN 465 Mich. 637; 641 N.W.2d 210; 2002 Mich. LEXIS 465 December...

Q:

Please use the this format to brief the below case: Facts: Judgement: Issue: Holding: General Analysis: Applied Analysis: Tricontinental Industries, Ltd. v. PricewaterhouseCoopers, LLP 475 F.3d 824...

Q:

Question: Summaries case (1 page) included 1. Case citation: 2. Facts: Provide enough information to understand the case. This section should not exceed 30 percent of your report. 3. Issue(s): a....

Q:

BCO 313: Negotiation at Work Anne Dwyer: a.dwyer@euruni.edu Negotiation at Work \"Managers and executives negotiate constantly over issues as varied as hiring decisions and purchases, corporate...

Q:

Side Agreements Business Law Individual Assignment I. Introduction The Commercial Companies Law of the United Arab Emirates (Federal Law No. 8 of 1984, as amended) provides for seven types of...

Q:

1. Which of the following is a false statement? A.An offer for a unilateral contract generally may be able to be revoked at any time prior to the performance of the requested act. B.Under the...

Q:

Directions to students: Download the solution to part 1 in the doc share (FILE: Unit 1 ETHICS CASE) or by clicking on the button to the left. Review the solution to parts 1 and 2 in the case. Drawing...

Q:

Show that the work done by a constant force F on an object that moves completely around a closed polygonal path is 0.

Q:

The yield on a general obligation bond for the city of Davenport fluctuates with the market. The monthly quotations for 2006 are given in Table P-9. Table P-9 MonthYield January ............. 9.29...

Q:

30. (a) State what is meant by the term 'closed system. (b) State the principle of conservation of momentum.

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...