The following cases on their own do not necessarily establish a partnership, except * Persons who are not partners to each other. Receipt by a person of a share of the profits of a business. Co-ownership or co-possession, whether such co-owners or co-possessors do or do not share any profits made by the use of the property. Sharing of gross returns, whether or not the persons sharing them have a joint or common right or interest in any property from which the returns are derived.
The following cases on their own do not necessarily establish a partnership, except * Persons who are not partners to each other. Receipt by a person of a share of the profits of a business. Co-ownership or co-possession, whether such co-owners or co-possessors do or do not share any profits made by the use of the property. Sharing of gross returns, whether or not the persons sharing them have a joint or common right or interest in any property from which the returns are derived.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following cases on their own do not necessarily establish a
Persons who are not partners to each other.
Receipt by a person of a share of the profits of a business.
Co-ownership or co-possession, whether such co-owners or co-possessors do or do not share any profits made by the use of the property.
Sharing of gross returns, whether or not the persons sharing them have a joint or common right or interest in any property from which the returns are derived.
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