A sharing of profits from a business creates a presumption that a partnership exists.

Name: A sharing of profits from a business creates a presumption that a partnership exists.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

A sharing of profits from a business creates a presumption that a partnership exists.​

Quizplus · Accepted Answer

Sharing of profits from a business is one of the key elements in determining whether a partnership exists or not. It creates a presumption of partnership, which means that unless there is evidence to the contrary, the parties who share in the profits of a business will be considered partners.

A Sharing of Profits from a Business Creates a Presumption