Unless otherwise stated by contract

Assignment Help Financial Management

Reference no: EM132070125

1. Unless otherwise stated by contract, the law of partnership presumes which of the following not to be true?

each partner has an equal voice in partnership management

a majority vote controls ordinary business decisions

profits are to be divided among the partners

regardless of the amount invested in the partnership, each partner has an equal vote

all of the other choices are true

2. If one has the right to occupy a piece of property until their death, at which point title to the property passes to heirs who have been named by the owner of the property, there is a:

life estate

joint tenancy

tenancy in common

residual interest

none of the other choices

Reference no: EM132070125

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