Partnerships
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Questions and Answers

Which of the following is NOT a requisite for a partnership?

  • Valid contract
  • Legal capacity to enter into a contract
  • Secrecy of the Articles of Partnership (correct)
  • Mutual contribution of money, property, or industry
  • What is the primary purpose of a partnership?

  • To obtain profits (correct)
  • To obtain property
  • To obtain contracts
  • To obtain industry
  • How many parties are required to form a partnership?

  • One
  • Three
  • Four
  • Two (correct)
  • What type of contributions are required in a partnership?

    <p>Money, property, or industry</p> Signup and view all the answers

    What is the nature of a partnership?

    <p>Bilateral</p> Signup and view all the answers

    Which of the following is NOT a characteristic of a partnership?

    <p>Unilateral</p> Signup and view all the answers

    What is the main purpose of a partnership?

    <p>To obtain profits</p> Signup and view all the answers

    Which of the following is NOT a requisite for a partnership?

    <p>Limited liability</p> Signup and view all the answers

    How many parties are required to form a partnership?

    <p>Two</p> Signup and view all the answers

    What type of contributions are required in a partnership?

    <p>Money, property, or industry</p> Signup and view all the answers

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