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The New Lawyer Q&A

Nov. 23, 2010

QUESTION 4



1. ABC - Partnership?


A general partnership comprises two or more individuals or entities cooperating to conduct a business for profit. Here, Alfred, Beth and Charles orally agreed to start ABC Computers, a business to manufacture and sell computers. Beyond that description of what a general partnership is, there is no clear test to determine whether an entity is a partnership.


Essentially, a general partnership exists when the parties ...

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