Angie, Chloe, and Michele Carry on Business in Partnership as Landscape

question 44

True/False

Angie, Chloe, and Michele carry on business in partnership as landscape gardeners. Angie purchased a set of patio furniture on credit for her personal use from a firm where the partnership purchased most of its equipment. Angie failed to pay for the goods, and the equipment supplier charged the purchase of the furniture to the partnership, as the goods had been delivered to the partnership's place of business. The sharing of business profits is insufficient to indicate the existence of a partnership agreement.

---

Definitions:

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of others remain unchanged.

Advertising Strategy

The plan and tactics a business uses to communicate with its market, promote its products or services, and attract customers.

Prisoners Dilemma

A situation modeled in game theory in which two individuals acting in their own self-interest do not produce the optimal outcome for either party.

Non-Cooperation

A strategy of refusing to work with or assist others as a form of protest or to achieve certain demands.