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Louis is a well-known art dealer. He joined forces with 15 of his art dealer friends and struck an agreement whereby they would share the
Louis is a well-known art dealer. He joined forces with 15 of his art dealer friends and struck an agreement whereby they would share the net proceeds of the art they sold. Is this a partnership? Would it make a difference if each of the art dealers agreed, BUT they agreed merely to share the gross proceeds from the sales and absorb their own costs themselves? What difference would it make if Louis had 25 art dealer friends he wanted to get into business with?
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