The formation of a general partnership requires:
A) filing appropriate paperwork with the secretary of state.
B) a formal certificate of cancellation when the partnership is terminated.
C) no express agreement.
D) that each partner be liable for losses depending on the individual partner's contribution to the enterprise.

Question

Quizplus · Accepted Answer

A partnership is a voluntary association designed to carry on a business for profit. However, no express agreement to create a general partnership is necessary. All that is required is that the parties intend to have the relationship the law defines as a partnership.

The Formation of a General Partnership Requires