As demonstrated in the case in the text,Finch v.Raymer,the presumption is very strong that:
A)property purchased with partnership funds belongs to the partners on a pro rata basis.
B)property purchased with partnership funds and used in the partnership belongs to the partnership.
C)property purchased with partnership funds and used in the partnership belongs to the partner that initiated the transaction.
D)property purchased with partnership funds and used in the partnership belongs to the partnership,as long as the property is titled to the partnership.

Question

Quizplus · Accepted Answer

The presumption is very strong that property purchased with partnership funds and used in the partnership belongs to the partnership.On the other hand,property used by the partnership is presumed to belong to an individual partner when the property is purchased by a partner with her own funds and in her own name with no indication in the transfer document of the partner's status as a partner or the existence of a partnership.

As Demonstrated in the Case in the Text,Finch V