Inner Checklist to General Partnerships

Question 1

Creation of General Partnership

Answer 1

1. Sources of Law
2. Aggregate and Entity Treatment of Partnership
3. Defined
4. Requirements

Question 2

Nature of Partnership

Answer 2

1. Rights and Obligations of Partners
2. Equal Rights of Partners
3. Partners’ Right of Control and Participation in Management.
4. Partnership Property Rights
5. Identifying Partnership Property
6. Partnership Liability for Partnership Debt

Question 3

Partner’s Authority to Bind Partnership

Answer 3

1. Types of Authority
2. Estoppel and Ratification
3. Notice and Knowledge
4. Partnership Liability to Third Persons