If There Is No Written Agreement as to the Way

question 7

Multiple Choice

If there is no written agreement as to the way income will be divided among partners,

• A) they will share income and losses equally
• B) they will share income and losses according to their capital balances
• C) they will share income and losses according to the time devoted to the business
• D) there really is no partnership agreement

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Definitions:

Separate But Equal

A doctrine that justified and upheld racial segregation, claiming that services could be separate but still equal.

Prior Restraint

A government action that prohibits speech or other expression before the speech happens, based on the anticipation of harm.

Right Of Privacy

The concept that one's personal information is protected from public scrutiny and the government cannot invade it without a compelling need.

Supreme Court

The highest judicial court in a country or state, which has the ultimate authority to adjudicate in disputes, interpret the constitution, and laws.