This element is pretty obvious. A partnership is a contractual agreement among persons, so the persons involved need to have capacity to contract. But RUPA does not provide that only natural persons can be partners; it defines person as follows: “‘Person’ means an individual, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.” 1 Thus unless state law precludes it, a corporation can be a partner in a partnership. The same is true under UPA.
You are here
Home » Law for Entrepreneurs » Partnerships: General Characteristics and Formation » Partnership Formation » Tests of Partnership Existence
Association of Persons