Max Has Been Sued for $20,000 as a Partner with Jim

question 208

Multiple Choice

Max has been sued for $20,000 as a partner with Jim Nogoode. Which of the following is false with regard to determining whether or not a person is a partner?

• A) The legal relationship of partnership requires that two or more persons carry on business in common with a view to profit.
• B) Co-ownership of a property does not in itself raise a presumption of partnership.
• C) Sharing gross revenues of a business does not in itself raise a presumption of partnership.
• D) If no profit was made in the business, Max would not be a partner.
• E) Sharing of profits is evidence of the existence of a partnership.

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Definitions:

Asthenosphere

A region of the Earth's mantle lying below the lithosphere, characterized by relatively low viscosity and mechanical weakness.

Lithosphere

The hard external layer of Earth, made up of the crust and the top section of the mantle.

Driving Forces

Factors or energies that lead to changes in a physical system or environment, often initiating or influencing processes.

Resisting Forces

Forces that oppose motion or movement, including friction, air resistance, and tension, which work against the direction of motion.