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Give a definition for partnership, containing the following words/terms: Relation Business In common View of profit (2 marks) Explain to your friend who is considering

Give a definition for partnership, containing the following words/terms:

Relation

Business

In common

View of profit (2 marks)

Explain to your friend who is considering joining a partnership, the meaning of each of the words/terms listed in a above. (8 marks)

Outline THREE acts that are within a partners implied authority and THREE outside a partners implied authority. (6 marks)

Transfer the table below to your answer sheet. Outline THREE ways how dissolution can be done within a partnership under the respective category. (9 marks)

Acts of Partners

By Operation of Law

By Judicial Decree

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