First Principles of Business Law
Business organisations in Australia

5. Partnerships

Question 1. What are the distinguishing characteristics of a partnership?

 

 

 

Read the statements below and select the best one.

(a) A partnership is only created when two or more persons begin to carry on a business together with the objective of making profits.

(b) A partnership is created whenever two or more persons enter into an agreement to participate in some way in the running of a business, or to receive any money from a business.

 

 

 

 

 

 

 

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