Question: Peter and Patty form a general partnership. Peter contributes $50,000 to the partnership and Patty contributes land with a fair market value of $50,000. Peter

Peter and Patty form a general partnership. Peter contributes $50,000 to the partnership and Patty contributes land with a fair market value of $50,000. Peter and Patty do not have a partnership agreement and instead agree to be bound by the default provisions in the RUPA. In this circumstance:

A The partnership owns the land after the contribution by Patty

B The partnership and Patty own the land after the contribution by Patty

C The partnership and Patty and Peter own the land after the contribution by Patty

D Patty owns the land after the contribution by Patty

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