. . The main characteristics of the partnership form of business organization are: Association of individuals Co-ownership of property Division of profit Limited life Mutual agency Unlimited liability For each of the following independent examples, identify the main partnership characteristic or characteristics that is (are) being described. . . 1. Lucy Lee, formerly an associate lawyer in a six-partner law firm, was recently made the seventh partner. At her first partnership meeting, several of suggested the firm should sign an expensive long-term lease for space in a modern, new office tower in the middle of downtown. Lucy is uncertains support the proposal, as she is afraid this could lead to her losing her house 2. George and Gerriare partners in a fruit stand. Without telling George, Gerri commits to buying peaches and cherries from George's wife and her new husband