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Please cite your references if any used: Why are partnerships formed? What is the legal nature of a partnership? Why is it important to establish

Please cite your references if any used:

Why are partnerships formed?

What is the legal nature of a partnership?

Why is it important to establish whether a partnership exists between persons carrying on a business?

How are partnerships created?

What are the usual contents of a partnership agreement?

To what extent are partners liable for the acts of their co-partners and for the debts of the firm?

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