The essential elements of a partnership do not include
A)a sharing of profits and losses.
B)a joint ownership of the business.
C)an equal right in the management of the business.
D)an intent to act in good faith.

Question

Quizplus · Accepted Answer

The essential elements of a partnership typically include a sharing of profits and losses, joint ownership of the business, and an equal right in the management of the business. An intent to act in good faith is a general legal principle applicable to all contracts and business dealings but is not specifically listed as an essential element of a partnership.

The Essential Elements of a Partnership Do Not Include