A. Except as otherwise provided in subsection B, the association of two ormore persons to carry on as co-owners a business for profit forms apartnership, whether or not the persons intend to form a partnership.
B. An association formed under a statute other than this chapter, apredecessor statute, or a comparable statute of another jurisdiction is not apartnership under this chapter.
C. In determining whether a partnership is formed, the following rules apply:
1. Joint tenancy, tenancy in common, tenancy by the entireties, jointproperty, common property, or part ownership does not by itself establish apartnership, even if the co-owners share profits made by the use of theproperty.
2. The sharing of gross returns does not by itself establish a partnership,even if the persons sharing them have a joint or common right or interest inproperty from which the returns are derived.
3. A person who receives a share of the profits of a business is presumed tobe a partner in the business, unless the profits were received in payment:
a. Of a debt by installments or otherwise;
b. For services as an independent contractor or of wages or othercompensation to an employee;
c. Of rent;
d. Of an annuity or other retirement benefit to a beneficiary,representative, or designee of a deceased or retired partner;
e. Of interest or other charge on a loan, even if the amount of paymentvaries with the profits of the business, including a direct or indirectpresent or future ownership of the collateral, or rights to income, proceeds,or increase in value derived from the collateral; or
f. For the sale of the goodwill of a business or other property byinstallments or otherwise.
A. Except as otherwise provided in subsection B, the association of two ormore persons to carry on as co-owners a business for profit forms apartnership, whether or not the persons intend to form a partnership.
B. An association formed under a statute other than this chapter, apredecessor statute, or a comparable statute of another jurisdiction is not apartnership under this chapter.
C. In determining whether a partnership is formed, the following rules apply:
1. Joint tenancy, tenancy in common, tenancy by the entireties, jointproperty, common property, or part ownership does not by itself establish apartnership, even if the co-owners share profits made by the use of theproperty.
2. The sharing of gross returns does not by itself establish a partnership,even if the persons sharing them have a joint or common right or interest inproperty from which the returns are derived.
3. A person who receives a share of the profits of a business is presumed tobe a partner in the business, unless the profits were received in payment:
a. Of a debt by installments or otherwise;
b. For services as an independent contractor or of wages or othercompensation to an employee;
c. Of rent;
d. Of an annuity or other retirement benefit to a beneficiary,representative, or designee of a deceased or retired partner;
e. Of interest or other charge on a loan, even if the amount of paymentvaries with the profits of the business, including a direct or indirectpresent or future ownership of the collateral, or rights to income, proceeds,or increase in value derived from the collateral; or
f. For the sale of the goodwill of a business or other property byinstallments or otherwise.
A. Except as otherwise provided in subsection B, the association of two ormore persons to carry on as co-owners a business for profit forms apartnership, whether or not the persons intend to form a partnership.
B. An association formed under a statute other than this chapter, apredecessor statute, or a comparable statute of another jurisdiction is not apartnership under this chapter.
C. In determining whether a partnership is formed, the following rules apply:
1. Joint tenancy, tenancy in common, tenancy by the entireties, jointproperty, common property, or part ownership does not by itself establish apartnership, even if the co-owners share profits made by the use of theproperty.
2. The sharing of gross returns does not by itself establish a partnership,even if the persons sharing them have a joint or common right or interest inproperty from which the returns are derived.
3. A person who receives a share of the profits of a business is presumed tobe a partner in the business, unless the profits were received in payment:
a. Of a debt by installments or otherwise;
b. For services as an independent contractor or of wages or othercompensation to an employee;
c. Of rent;
d. Of an annuity or other retirement benefit to a beneficiary,representative, or designee of a deceased or retired partner;
e. Of interest or other charge on a loan, even if the amount of paymentvaries with the profits of the business, including a direct or indirectpresent or future ownership of the collateral, or rights to income, proceeds,or increase in value derived from the collateral; or
f. For the sale of the goodwill of a business or other property byinstallments or otherwise.
