Which of the following is TRUE?

Absent an agreement to the contrary, partners will share in the profits in proportion to their capital investment. So if Adam contributed $$70,000$ and Danielle contributed $$30,000,$ absent an agreement to the contrary, Adam is entitled to $70\%$ of the profits and Danielle $30\%$

The law of partnerships is based in federal law and is therefore uniform in all states.

Express and implied authority apply to partnerships, but apparent authority does not.

One partner can be held liable for the actions of another partner, even if the act was expressly forbidden.