8. Abel, Bean, and Cain are lifelong friends and, together, found a warehouse for sale at a good price. Over dinner one evening, they spoke about it and decided to pool their money and buy the warehouse together. Two years after the oral agreement, buying the warehouse, and leasing it out to tenants, the friends have a falling out. Abel claims that the partnership was never written down so it is invalid. Bean claims that they have been co-owners of the warehouse for two years, so the Statute of Frauds applies. Cain claims that their partnership agreement is governed by strict statutory rules. Which is false?

a.An oral agreement to form a partnership is valid.

b.Most partnerships have no fixed terms and are thus not subject to the Statute of Frauds.

c.Strict statutory rules govern partnership agreements.

d.A partnership may be formed by estoppel.