Under the Revised Uniform Partnership Act, which all states have adopted, a general partnership agreement may be express or implied. Group of answer choices True False

Under the Revised Uniform Partnership Act, which all states have adopted, a general partnership agreement may be express or implied.
Group of answer choices
True
False

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Answer

• False
  Explanation:

• An example of state that has not adopted RUPA is Louisiana.
• Not all states have adopted the Revised Uniform Partnership Act (1997).
• The Act was last amended in 2013 and defines general partnership as an association of two or more individuals who agree to join in forming a company for profit.
• The agreement can be express or implied, but all parties are to share real profits
• In express warranty, terms are either verbal or in writing. In implied warranty, terms and conditions can be by actions of the parties.