This is “Partnerships: General Characteristics and Formation”, chapter 27 from the book The Legal Environment and Business Law: Master of Accountancy Edition (v. 1.0). For details on it (including licensing), click here.

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Chapter 27 Partnerships: General Characteristics and Formation

Learning Objectives

After reading this chapter, you should understand the following:

  1. The importance of partnership and the present status of partnership law
  2. The extent to which a partnership is an entity
  3. The tests that determine whether a partnership exists
  4. Partnership by estoppel
  5. Partnership formation