Steven, Nick, and Adam have formed a general partnership to engage in real estate real estate development services. Although the three individuals have a written partnership agreement, it is silent on several issues, including management of the business and division of profits and losses. Steven contributed $40,000; Nick contributed $35,000; and Adam contributed $25,000 to the partnership.The partners are considering adding a new partner to the entity. 

How many votes will each partner have in voting on this matter? Why?  

Answer rating: 100% (QA)

In a general partnership unless otherwise specified ... View the full answer