BUL 5810 Study Guide Questions & 100% Correct Answers
6 views 0 purchase
Course
BUL 5810
Institution
BUL 5810
A corporation may not be a partner in a partnership.
~~> false
Under the common law, a partnership is generally considered to be a legal
entity rather than an
aggregate of individuals.
~~> False
Partners may elect to have the partnership not be a separate taxable entity,
so that ...
The form of business association known as a partnership can be traced to
ancient Babylonia and
classical Greece and was used in England during the Middle Ages.
✓ ~~> True
Corporations today outnumber unincorporated business associations.
✓ ~~> false
All states have authorized the formation of limited liability companies
✓ ~~> true
All 50 states have adopted the Revised Uniform Partnership Act.
✓ ~~> false
The trustees are generally not personally liable for the debts of a business
trust.
✓ ~~> False
Because the statute of frauds does not apply expressly to a contract for the
formation of a
partnership, usually no writing is required to create the relationship.
Master01 | September, 2024/2025 | Latest update
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamArsenal. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
