Rex and Scott Operate a Law Practice in Partnership Form

question 86

True/False

Rex and Scott operate a law practice in partnership form. Because Rex and Scott are brothers, the partnership is subject to the family partnership income reallocation rules.

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Definitions:

Evidence

Information presented in testimony or documents that is used to persuade the judge or jury in a legal case.

Not Guilty

A legal declaration that an individual accused of a crime did not commit it, absolving them of criminal responsibility.

Act of Omission

A failure to take action when there is a duty to act, which may result in liability.

Crime

A wrong against society proclaimed in a statute and punishable by society through fines and/or imprisonment—or, in some cases, death.