Question
Isabel and Jake form a partnership. They want to build a new office. They get Larry, a real estate agent, to find them the perfect
Isabel and Jake form a partnership. They want to build a new office. They get Larry, a real estate agent, to find them the perfect property. Isabel wants the partnership to hold the title to the new property, but Larry insists that a partnership is not a person and so both Isabella and Jake must be parties to the contract. Is Larry right that both partners must be parties to the purchase?
a.) Maybe, but only if Isabel or Jake is bankrupt
b.) No. A partnership is a separate legal entity.
c.) Yes, because the sale of land is different from ordinary contractual obligations
d.) Yes, because a partnership is not a separate legal entity
e.) No. A partnership can own land.
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