Two students agree to run Saturday dances and to split whatever money they make. There is absolutely no talk of partnership. Which of the following is TRUE?
A) The students are not partners because they did not agree to be partners.
B) The students are not partners because they do not have a written partnership agreement.
C) The students are partners because they agreed to share profits.
D) The students are partners because every business agreement between two people creates a partnership.
E) The students are not partners because one of the indicia of partnership is missing.
C
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a) value b) revenue c) bond rating d) risk
Ashton borrows $25,000 from Amanda. Amanda lends the money to Ashton without taking an interest in collateral for the loan. Amanda is relying on Ashton's credit standing when she makes the loan. What kind of creditor is Amanda?
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