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11. X, an author of the book entitled 'Business Law and Y, a publisher and distributor, agree that will leave the manuscript with Y and Y will arrange for its publication and sale. I profit derived from such activity will be shared by them equally. Are X and Y partners in the above situation? Examine.?
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11. X, an author of the book entitled 'Business Law and Y, a publisher...
Analysis of X and Y's Partnership



  • Agreement: X and Y have agreed to leave the manuscript with Y for publication and sale, with equal sharing of profits.

  • Sharing of Profits: The agreement between X and Y explicitly states that they will share profits equally. This indicates a clear intention to form a partnership.

  • Joint Business: By agreeing to work together to publish and sell the book, X and Y have entered into a joint business venture.

  • Contributions: X is contributing the manuscript, while Y is contributing their expertise in publishing and distribution. These contributions are essential for the success of the joint business venture.

  • Liability: X and Y are jointly and severally liable for any debts or obligations incurred in the course of the joint business venture. This means that if the venture incurs any debts or obligations, both X and Y are responsible for paying them.

  • Conclusion: Based on the above analysis, it can be concluded that X and Y are in fact partners in this joint business venture.



In summary, the agreement between X and Y to publish and sell the book with equal sharing of profits, their joint business venture, and their respective contributions and liabilities all point towards a partnership. Therefore, X and Y are partners in this situation.
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11. X, an author of the book entitled 'Business Law and Y, a publisher and distributor, agree that will leave the manuscript with Y and Y will arrange for its publication and sale. I profit derived from such activity will be shared by them equally. Are X and Y partners in the above situation? Examine.?
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11. X, an author of the book entitled 'Business Law and Y, a publisher and distributor, agree that will leave the manuscript with Y and Y will arrange for its publication and sale. I profit derived from such activity will be shared by them equally. Are X and Y partners in the above situation? Examine.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 11. X, an author of the book entitled 'Business Law and Y, a publisher and distributor, agree that will leave the manuscript with Y and Y will arrange for its publication and sale. I profit derived from such activity will be shared by them equally. Are X and Y partners in the above situation? Examine.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 11. X, an author of the book entitled 'Business Law and Y, a publisher and distributor, agree that will leave the manuscript with Y and Y will arrange for its publication and sale. I profit derived from such activity will be shared by them equally. Are X and Y partners in the above situation? Examine.?.
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