Which of the Following Is Incorrect with Respect to the Creation

question 78

Multiple Choice

Which of the following is incorrect with respect to the creation of a partnership?

• A) An important indication as to whether a partnership exists is the sharing of the profits of the business activity.
• B) The business activity must be continuing in order for it to indicate the existence of a partnership.
• C) A partnership can only be created with the consent of the parties.
• D) The common method of creating a partnership is by agreement.
• E) The duties and obligations of partners to each other can be modified by agreement.

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Definitions:

Threats

Expressions or actions indicating an intention to cause harm or force someone to do something against their will.

Reliance

The act of depending or counting on something or someone, often used in legal contexts to describe a situation where one party bases a decision on the assurances or promises of another.

Misrepresentation

The act of providing false or misleading information with the intent to deceive someone into entering into an agreement.

Duress

Unlawful pressure brought to bear on a person, causing the person to perform an act that he or she would not otherwise perform (or refrain from doing something that he or she would otherwise do).