The President of Kool Science Wants to Draw Up a Written

question 17

Multiple Choice

The president of Kool Science wants to draw up a written contract because it is unclear what type of law will be applied if there are problems.However,the president of Language Fun states that,although it is always a good idea to have a written contract,it is not necessary because partnership law will be applied if there are problems.Who is correct?

• A)Language Fun's president is correct because a joint venture may be formed without drawing up a formal agreement since the parties are required to file a certificate of joint venture with the state.
• B)Language Fun's president is correct because a joint venture may be formed without drawing up a formal agreement,and courts frequently apply partnership law to joint ventures.
• C)Kool Science's president is correct because courts will not know what type of law to apply without an express written provision in a contract.
• D)Kool Science's president is correct because a formal agreement is required for a joint venture.
• E)Neither person is correct.

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