Asked by Devin Usher on May 14, 2024
Verified
When two people enter into a partnership by agreement but neglect to set out the terms of the agreement, or where the parties becomes partners inadvertently, where are the terms and arrangements of that partnership are set out?
Partnership Agreement
A contract between business partners that outlines the terms, conditions, and responsibilities within the partnership.
Terms And Arrangements
The specific conditions and agreements that form the basis of a contract or agreement between parties.
- Acquire knowledge on the legal statutes that oversee the establishment, liability, and operation of partnerships.
Verified Answer
NH
Learning Objectives
- Acquire knowledge on the legal statutes that oversee the establishment, liability, and operation of partnerships.
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