Explain five legal requirements for creating partnership


Question: Joe and Nader are involved in a project. Joe buys used furniture from Craigslist and delivers them to Nader, who sells them in a store. When they started their project, each of them provided $5000 to buy a van to transport the furniture and to buy equipment for the store. After deducting all costs, they share any remaining profits equally. Joe visits Nader once a month, so they can discuss their activities. Is there a partnership between the two? Make sure to first briefly explain the five legal requirements for creating a partnership (two or more people carrying on a business for profit in common) before applying all of them to the facts.

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Business Law and Ethics: Explain five legal requirements for creating partnership
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