Partnership by estoppel occurs when two people hold themselves out as partners without filing the...
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Accounting
Partnership by estoppel occurs when
two people hold themselves out as partners without filing the appropriate paperwork.
a partner tells a third party there is a partnership and the third party relies on the statement.
one person tells another that they are now partners.
two people work together for a long enough time for third parties to assume there is a partnership formed.
neither partner denies the existence of a partnership when asked by a third party.
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