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Give a case when a person who is not apartner has a right to share in the profits of apartnership

Sagot :

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Answer:

Federal tax returns which show a person or entity as receiving profits from a business generally are considered prima facie evidence that the person or entity is a partner in the business to which the returns relate, as are tax returns showing a partnership filing status.

Explanation:

If there is no written partnership agreement, partners are not allowed to draw a salary. Instead, they share the profits and losses in the business equally. The agreement outlines the rights, responsibilities, and duties each partner has to the company and to each other.

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