Anita is hired to manage an unincorporated dress boutique owned by Betty. The two agree that Anita will receive one-third of the net profits, which amount is to be paid to her on a monthly basis. Is Anita a partner? If the boutique has a loss instead of a profit, would Anita have to share the loss? Explain
Anita is not a partner since she does not have joint ownership of the business and does not have equal right of management. Since Anita is not a partner, she is not held to share losses in the business.
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