In a Joint Venture, the Parties: ______

question 20

Multiple Choice

In a joint venture, the parties: ______.

• A) combine their labor or property for a single undertaking and share profits and losses equally.
• B) combine their labor or property for a continuing business and share profits and losses equally.
• C) assume no personal liability beyond the risk of losing their initial investment.
• D) have unlimited personal liability for debts of the venture.