Factors of existence partnership
Illustrate the factors besides sharing of profits that suggest the existence of a partnership?
Expert
Factors besides sharing of profits that suggest the existence of a partnership:
• Contribution of property or labour to the enterprise
• Guarantee of partnership debts
• Joint ownership of property
• Participation in management, including having signing authority for contracts and bank accounts, and access to information about the business
• Holding oneself out as a partner, or allowing others to do so
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