General Partnerships That Exist for More Than ________ Must Have

question 30

Multiple Choice

General partnerships that exist for more than ________ must have their general partnership agreement in writing under the Statute of Frauds in order to deal in real estate.

• A) six months
• B) 180 days
• C) five years
• D) one year

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Definitions:

Common Ratio

The common ratio in a geometric sequence is the constant factor between consecutive terms.

Geometric Sequence

A sequence of numbers where each term after the first is found by multiplying the previous one by a fixed, non-zero number called the common ratio.

Geometric Sequence

An ordered list of numbers in which every term succeeding the initial one is obtained by multiplying the preceding term by a constant, non-zero value known as the ratio.

Nth Term

The term located at position n in a sequence, where n represents a particular position number.