1-Joan Davis and William Marclay, owners of multi-million dollar businesses agree to join together as a partnership. Due to the size of the partnership, the contract forming the partnership must be in writing. True or False?

2-Deeply in debt, Edwin Larsen assigned all of his interest in the partnership of which he was a member to Ernie Lacosse. This act will result in the end of the partnership.True or False?

3-Jacob Jones and Denise Roberts are both real estate agents. Whenever they are a part of the same sale of property, they will share the commission.They are agents. True or False?

4-Kean and Bubnick are real estate agents who share commissions on joint sales. This sharing of gross returns establishes a partnership unless Kean and Bubnick have a written agreement to the contrary. True or False?

5-Drew is a member of a partnership that sells petroleum drilling equipment. The partnership has a policy of not extending credit to customers in excess of $20,000 without the approval of three partners.Drew, on his own, extended credit to a good customer in the amount of $30,000.Drew will be personally responsible for the loan. True or False?

6-Bill, Dana, and Carol are partners. After five years of operation, the partnership has debts of $4,500,000.Bill and Dana have no assets.If Carol has personal funds in excess of $4,500,000, she will be completely responsible for the debts of the partnership.True or False?