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  • Answers 1. Memorandum Entry 2. Professional Partnership 3. Partnership 4. Agreed Value

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    jahnhannalei marticio
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    The document defines different types of partnerships and partnership-related terms. Specifically, it discusses a memorandum entry made when a partner contributes skills or industry to a partnership, a professional partnership organized to provide services, the definition of a partnership as an agreement between parties to contribute assets for profits, the agreed value assigned to non-cash assets contributed to a partnership, and someone made liable as a partner through estoppel despite not being party to the partnership agreement.

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    An Entry Prepared When a Partner Contributes Skill or Industry Into the Partnership

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    The document defines different types of partnerships and partnership-related terms. Specifically, it discusses a memorandum entry made when a partner contributes skills or industry to a partnership, a professional partnership organized to provide services, the definition of a partnership as an agreement between parties to contribute assets for profits, the agreed value assigned to non-cash assets contributed to a partnership, and someone made liable as a partner through estoppel despite not being party to the partnership agreement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    122 views1 page

    Answers 1. Memorandum Entry 2. Professional Partnership 3. Partnership 4. Agreed Value

    Uploaded by

    jahnhannalei marticio
    The document defines different types of partnerships and partnership-related terms. Specifically, it discusses a memorandum entry made when a partner contributes skills or industry to a partnership, a professional partnership organized to provide services, the definition of a partnership as an agreement between parties to contribute assets for profits, the agreed value assigned to non-cash assets contributed to a partnership, and someone made liable as a partner through estoppel despite not being party to the partnership agreement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    1.

    An entry prepared when a partner contributes skill or industry into the partnership
    2. A partnership organized for the purpose of rendering services
    3. A contract whereby one or two more persons bind themselves to contribute money,
    property or undustry to a common fund with the intention of dividing profits among
    themselves
    4. The value assigned to the non-cash asset contributed into the partnership
    5. On who is not really a partner, not being a party to the partnership agreement, but is made
    liable as a partner for the protection of innocent third persons

    ANSWERS

    1. Memorandum entry
    2. Professional partnership
    3. Partnership
    4. Agreed value
    5. estoppel

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