Asked by Janell Cooper on Jun 28, 2024
Verified
If the partners in a partnership have not written a legal agreement, which act helps to settle any problems that may arise?
A) SBA
B) SEC
C) UPA
D) FTC
Legal Agreement
A contract that outlines terms and conditions between parties, binding them legally.
UPA
Uniform Partnership Act, which is legislation adopted by some states in the USA to govern partnerships.
- Comprehend the legal framework supporting partnership agreements and operations, including the Uniform Partnership Act (UPA).
Verified Answer
SJ
shrenik joshiJun 29, 2024
Final Answer :
C
Explanation :
The Uniform Partnership Act (UPA) helps to settle any problems that may arise in a partnership when the partners have not written a legal agreement. It provides a basic framework for the operation of partnerships in the absence of an explicit agreement.
Learning Objectives
- Comprehend the legal framework supporting partnership agreements and operations, including the Uniform Partnership Act (UPA).
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