Question

Partnership agreement must be in written form. (State True or False)

Answer 1

the above statement is true because partner may be cheating you

Answer 2

Answer:

False, it is not necessary to have partnership agreement in written form.

Explanation:

Although there's no requirement for a written partnership agreement, often it's a very good idea to have such a document to prevent internal squabbling (about profits, direction of the company, etc.)

Many partnerships are formed naturally because the people who are involved in the business share the same goals, so their partnerships don't need formation documents to exist.