16. A partnership must have a lawful object or purpose, and must be established for the common benefit or interest of the partners. 17. Where an immovable property is contributed in a partnership a private instrument shall be necessary. 18. Articles of universal partnership, entered into without specification of its nature, only constitute a universal partnership of all present property.

16. A partnership must have a lawful object or purpose, and must be established for the common benefit or interest of the partners. 17. Where an immovable property is contributed in a partnership a private instrument shall be necessary. 18. Articles of universal partnership, entered into without specification of its nature, only constitute a universal partnership of all present property.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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