Asked by Rivaldo English on Jun 25, 2024
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Because the statute of frauds does not apply expressly to a contract for the formation of a partnership, usually no writing is required to create the relationship.
Statute Of Frauds
A legal principle that requires certain types of contracts to be in writing to be enforceable.
Formation
The process of creating or establishing a new business, organization, or legal entity.
- Comprehend the step-by-step and judicial prerequisites for establishing a partnership, including the importance and consequences of having formal contracts.
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Learning Objectives
- Comprehend the step-by-step and judicial prerequisites for establishing a partnership, including the importance and consequences of having formal contracts.