A Universal Partnership with No Express Agreement?
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A Universal Partnership with No Express Agreement?
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A Universal Partnership with no express agreement refers to a legal concept that recognizes the existence of a partnership between individuals even without a formal or explicit agreement. In certain circumstances, the law may recognize the existence of a partnership based on the conduct and actions of the parties involved. This means that individuals who have been operating and sharing responsibilities as if they were in a partnership, without a written agreement, may still be deemed as being in a Universal Partnership. While the absence of an express agreement may complicate matters, the law acknowledges the implicit intention and mutual understanding between the parties, providing some legal recognition and protection for their partnership.