Alan and baker are disappointed in the profitability of their a and b partnership. they want to join their partnership with the x and y partnership. is it possible for a partnership to be a partner Yes, it is possible for a partnership to be a partner.
A partnership at will is immediately dissolved when a partner passes away or declares bankruptcy under the RUPA. The simplest type of company entity is a partnership.
Courts consider two factors to decide whether a partnership exists:-
(1) the parties' intentions.
(2) the division of profits and losses.
(3) Joint management and control of the business activity.
(4) Each partner's capital investment.
(5) Common ownership of property
Therefore, there cannot be a partnership if there is no purpose to running a business and splitting its earnings. For instance, co-owners who split a piece of land's rent are not regarded as partners in a business.
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