[amp_mcq option1=”Sharing of profits” option2=”Mutual agency” option3=”Carrying of some business” option4=”All of the above” correct=”option4″]<\/p>\n
The correct answer is D. All of the above.<\/p>\n
Sharing of profits is one of the most common ways to prove that a partnership exists. However, it is not the only way. Mutual agency, which means that the partners have the authority to act on behalf of the partnership, is also considered conclusive evidence of partnership. Finally, carrying on some business is also evidence of partnership, even if the business is not profitable.<\/p>\n
In order to prove that a partnership exists, it is not necessary to show that all three of these factors are present. However, if all three factors are present, it is very strong evidence that a partnership exists.<\/p>\n
Here are some additional details about each of the three factors:<\/p>\n
If you are unsure whether or not a partnership exists, it is best to consult with an attorney.<\/p>\n","protected":false},"excerpt":{"rendered":"
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