If Two People Identify Themselves as General Partners and Create

question 38

True/False

If two people identify themselves as general partners and create a written partnership agreement,the law is obligated to recognize their business entity as a general partnership.

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Definitions:

For Deposit Only

An endorsement on a check specifying that the check must be deposited into an account and cannot be cashed directly.

Negotiation

The process of discussing things with others to reach an agreement, compromise, or settlement.

Order

An authoritative command, direction, or instruction, typically issued by a court or by someone in a position of power.

Bearer

A term referring to an individual in possession of a negotiable instrument (such as a check or bond) that is payable to whoever holds it.