Partnerships

Question 1

JAA approach to work - partnership

How do you determine whether a partnership exists b/t parties; what factors support a finding of a partnership (5 things)?

Answer 1

I R&R w/ PC b/c Sharing is Caring

Question 2

How do you determine whether a partnership exists b/t parties; what factors support a finding of a partnership (5 things)?

I R&R w/ PC b/c Sharing is Caring

Answer 2

Intent to be partners, Receipt of or the Right to receive profits, participation or right to Participate in Control of business, Sharing or agreeing to share losses, Contributing money or property to business

Question 3

crazy Carlos Cortez ends relationships at will

What events require that a partnership wind up (6 things)?

Answer 3

Illegal-JDS-CUE-At-Will

Question 4

What events require that a partnership wind up (6 things)?

Illegal-JDS-CUE-At-Will

Answer 4

event makes business Illegal, Judicial Decree, Sale of substantially all assets, Consent is Unanimous, End of definite term, if partnership At Will an agreement of majority in interest

Question 5

life long partnership created jeopardy!

How is a limited liability partnership formed?

Answer 5

Reg A for 200, (what is) ET In Name

Question 6

How is a limited liability partnership formed?

Reg A for 200, (what is) ET In Name

Answer 6

partners must Register Annually, pay $200 partner fee, must include Entity Type In Name

Question 7

LP success needs networking

How is a Limited Partnership formed?

Answer 7

COF-Fee-LP-Agree-N-ET

Question 8

How is a Limited Partnership formed?

COF-Fee-LP-Agree-N-ET

Answer 8

Certificate Of Formation, Fee, must have written LP Agreement, Name must include Entity Type