Which form of compensation is

  1. Which form of compensation is a partner entitled to receivefrom a partnership? A. Weekly salary for work performed.

      B. Fairmarket value for services rendered.

C. A share of partnership profits.

D. A reasonable management fee formanaging the business.

  1. In Finch v. Raymer, the court ruled that the plaintiffand defendant had formed a partnership to renovate real propertybecause:

A. Title to the real property was heldin the names of both parties.

B. Defendant had drafted thepartnership agreement and therefore any ambiguity regarding theparties’ relationship had to be construed against her.

C. Plaintiff proved that the partieshad agreed to combine their assets, labor, and skill with theunderstanding that profits would be shared between them.

D. All of the above.

  1. Which of the following is NOT a characteristicof a limited liability company (“LLC”)?
  1. Members are jointly and severally liable for all LLCobligations.
  2. Members of an LLC may elect to have the LLC treated as apartnership or corporation for income tax purposes.
  3. An LLC may be member-managed or manager-managed.
  4. An LLC may only be formed in accordance with a statuteauthorizing the formation of such entities.


1. Option C

Unless otherwise agreed, profits are shared equally among thepartners (by number).Unless otherwise agreed, losses are shared inthe same manner as profits.If partners have agreement as to how tosplit losses, but no agreement on profit split, then profits willbe shared equally. Sharing of profits is versy essential inPartnership. If two people don’t share the profits of the business,they are not partners.

2.Option D

The trial court found that all of the disputed property waspartnership property and that each party held a one-half undividedinterest in the property. Accordingly, the court declared that theparties owned the disputed real property as tenants in common, andit awarded the plaintiff a judgment for one-half of the value ofcertain personal property. The court also awarded attorney’s feesto the plaintiff. The court further concluded that the defendanthad fraudulently conveyed partnership property to her father, aco-defendant, and the court set aside the sale and held that thedefendant was responsible for repaying to her father the amount hepaid for the fraudulently conveyed property.

3.Option D

Limited liability companies are corporate structures in theUnited States where owners are not personally liable for thecompany’s debts or liabilities.Regulations surrounding LLCs varyfrom state to state.Any entity can form an LLC includingindividuals and corporations; however, banks and insurancecompanies cannot.

"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!"
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with brilliantassignmenthelp.com
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes