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Abe and Carlos want to form a general partnership. What must they do in order to...

Abe and Carlos want to form a general partnership. What must they do in order to create this legal form of business?

a. They must sign a written agreement and file it with the secretary of state.

b. They must first orally agree to become partners and then formulate a contract.

c. They must get a partnership license from the secretary of state.

d. They can start a partnership without any formalities.

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Answer #1

Answer: Option (D) They can start a partnership without any Formalities

In order to start a general partnership business there is not required of any legal formalities, Based on the partners understanding they can start the business. but they must have clarity about certain things like capital ratio, profit distribution and participation of the partners in business. so formalities to start a partnership business not required.

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