Asked by OfficialAuzzi Clitnovici on May 05, 2024
Verified
In the absence of an express agreement, which act governs partnerships in most states?
A) The Joint Partnership Act
B) The Uniform Joint Agreement Act
C) The Uniform Partnership Act
D) The Associated Partnership Act
E) The Joint Agreement Act
Uniform Partnership Act
A statute that sets standard rules for the formation and operation of partnerships in the United States to ensure consistency and fairness.
- Understand the steps and legal mandates necessary for establishing, running, and winding up diverse forms of business organizations.
Verified Answer
MP
Manpreet pahwaMay 10, 2024
Final Answer :
C
Explanation :
The Uniform Partnership Act (UPA) governs partnerships in most states in the absence of an express agreement between the partners.
Learning Objectives
- Understand the steps and legal mandates necessary for establishing, running, and winding up diverse forms of business organizations.
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