Question

Partnership is created by a ________.

• A. statute
• B. contract
• C. birth
• D. government regulations

Answer 1

Answer: (B)

contract

A partnership is an agreement between two or more people, express or implied, to conduct certain business activities. The parties to a partnership may be individuals, corporations , and even other partnerships. The members of a partnership may enter into a written contractual agreement, but such formality is not necessary. Partnership is created by a contract.