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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