A Person Who Receives a Share of Profits of a Business

question 28

True/False

A person who receives a share of profits of a business is presumed to be a partner.

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Definitions:

President Gerald Ford

The 38th President of the United States, serving from 1974 to 1977, known for his efforts to heal the country post-Watergate scandal.

Contracts

Legal agreements between two or more parties that are binding in law.

Foreign Corrupt Practices Act

A United States law that prohibits U.S. companies and their employees from bribing foreign officials to retain or obtain business.

Foreign Companies

Companies that are incorporated in one country but operate, have offices, or conduct significant business activities in other countries.