Which of the following is the most convincing evidence of a partnership arrangement?
A) Two or more persons are co-owners of property used in a business.
B) Two or more persons have a written agreement regarding a fundraiser for charity.
C) Two or more persons carry on a business for profit, but they have no formal agreement.
D) Two person share a joint savings account in which they deposit money and share the interest.

Question

Quizplus · Accepted Answer

Carrying on a business for profit together, even without a formal agreement, is a key indicator of a partnership, as it demonstrates the intention to share profits and losses.

Which of the Following Is the Most Convincing Evidence of a Partnership