Which of the following is correct with regard to partnership property?
A) Like partnership capital, it is a fixed amount set forth in the articles of partnership.
B) Under the RUPA, there is a rebuttable presumption that unless a contrary intention appears, property acquired with partnership funds is partnership property.
C) The RUPA sets forth two irrebuttable presumptions that apply when the partners did not express their intent, one of which is that property acquired in the name of one of the partners without an indication of her capacity as a partner and without use of partnership funds is presumed to be that partner's separate property.
D) If there is no express agreement whether property owned by a partner before formation of the partnership and used in the partnership business is an asset of the partnership, the fact that taxes, liens, and expenses have been paid by the partnership is irrelevant.
Correct Answer:
Verified
Q37: A charitable organization cannot be formed as
Q38: Corporations today outnumber unincorporated business associations plus
Q39: Any natural person having full capacity may
Q40: A partner has all but which of
Q41: Which of the following is the most
Q43: A _ is an unincorporated business association
Q44: Under the UPA, a partner's ownership interest
Q45: To be partnership property, title to real
Q46: Andre invested $100,000 in a partnership with
Q47: Sue, Barb, and Carlotta agree to put
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents