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  3. 1- this is the prima facie element, according to t

1- This is the prima facie element, according to the court in Fenwick v Unemployment...

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Accounting

1- This is the prima facie element, according to the court in Fenwick v Unemployment Compensation Commission for determining the existence of a partnership.

profit sharing

control of partnership property

community power in administration

obligations to share in losses

2- In a Limited Partnership (LP) the General partner(s) manage the business, have a duty to account to the limited partners and are personally liable to creditors. According to the court in the Eagles Landing Development v. Eagles Landing Apartments case, the limited partners, conversely, are essentially investors and are not liable for debts of the limited partnership beyond their contribution, unless the limited partners begin to act like general partners.

True

False

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