Fact Pattern 37-1A (Questions A3-A4 Apply)

question 13

Multiple Choice

Fact Pattern 37-1A (Questions A3-A4 apply)
Desi starts up eSites,an Internet service,and leases office space in a building owned by Fred.The lease requires Desi to pay Fred a base rental of $1,250,plus 10 percent of eSites' profits,each month.The term is two years.Desi hires Gwen to work at eSites' tech support desk at an hourly wage of $12.50,plus a commis?sion of 10 percent of the prof?its.The term is also two years.
-Refer to Fact Pattern 37-1A.Desi and Fred are

• A)not partners,because Fred does not have an ownership interest or manage?ment rights in eSites.
• B)not partners,because the lease includes a "base rental."
• C)not partners,because the rent includes only 10 percent of the profits.
• D)partners in a partnership for two years.

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Definitions:

Logic of Statements

The study of principles and criteria for evaluating deductive arguments and the structural relationships between statements.

Logic of Statements

Refers to the study and application of the principles of valid inference and correct reasoning, particularly focusing on the relationships and properties of statements in logic.

Negation

The contradiction or denial of something, often expressed in linguistic terms as "not."

Bi-conditional

A logical connection between two statements where both are true or both are false.