Answer the following statement(s) true (T) or false (F)
1. Partners owe a duty of loyalty and a duty of care to the partnership and the other partners.
2. The aggregate theory applies in many sections of the Uniform Partnership Act (1914) relating to the substantive liabilities and duties of the partners.
3. Under the Uniform Partnership Act (1997), partnership property is held in a tenancy of partnership.
4. A partnership agreement may provide for an unequal distribution of the assets of the partnership to the partners upon dissolution of the partnership.
5. Partners must contribute an equal amount to the partnership.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. FALSE
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