Which of the following is not essential to the formation of a mining partnership?
A)Joint operation of the property
B)Joint ownership of a mineral interest
C)Active physical participation in operations
D)Sharing of profits and losses

Question

Quizplus · Accepted Answer

Persons who cooperate in the working of either a mine or an oil or gas well are treated as mining partners if there is (1)joint ownership of a mineral interest, (2)joint operation of the property,and (3)sharing of profits and losses.Joint operation requires more than merely financing the development of a mineral interest,but it does not require active physical participation in operations;it may be proved by furnishing labor,supplies,services,or advice.

Which of the Following Is Not Essential to the Formation