In order to establish a partnership, you must have a lawyer draw up a

QUESTION

In order to establish a partnership, you must have a lawyer draw up a legal agreement in the form of articles of partnership.

Indicate whether the statement is true or false.

ANSWER

Answer: FALSE
Explanation: A legal agreement is a good idea but not required by law; if you don’t have articles of partnership, partnerships are covered by the Uniform Partnership Act in every state except Louisiana.