A partnership agreement:

Is not binding unless it is in writing.

Is the same as a limited liability partnership.

Is binding even if it is not in writing.

Does not generally address the issue of the rights and duties of the partners.

Is also called the articles of incorporation.

Question

Business

Duncan Armstrong

9 November, 00:17

A partnership agreement:

Is not binding unless it is in writing.

Is the same as a limited liability partnership.

Is binding even if it is not in writing.

Does not generally address the issue of the rights and duties of the partners.

Is also called the articles of incorporation.

+4

Answers (1)

Know the Answer?

Orlando Woodward · Answer 1

A partnership agreement is binding even if it is not in writing

Explanation:

A partnership is a relationship that exist between two or more people (Usually two to twenty people) to pool their resources and capital together and establish a business enterprise with the aim of making profit.

A partnership agreement can be written on unwritten. Even when unwritten, a partnership agreement is binding and is enforceable in the law court.

A written partnership agreement is called a partnership deed. partners are usually encouraged to have a partnership deed that clarifies the respective positions and duties of each partners.

A partnership agreement:Is not binding unless it is in writing.Is the same as a limited liability partnership.Is binding even if it is not in writing.Does not generally address the issue of the rights and duties of the partners.Is also called the articles of incorporation.

A partnership agreement:

Is not binding unless it is in writing.

Is the same as a limited liability partnership.

Is binding even if it is not in writing.

Does not generally address the issue of the rights and duties of the partners.

Is also called the articles of incorporation.