As to its duration, a partnership is either universal or particular.Group of answer choicesTrueFalse

Answer Analysis

The statement presents two types of partnerships: universal and particular, focusing on their duration.

1. Definition of Partnerships:

   • Universal Partnership: This typically refers to a partnership that encompasses all present and future profits, potentially lasting indefinitely.
   • Particular Partnership: This is created for a specific purpose or project and has a defined duration.

2. Duration Characteristics:

   • Universal partnerships tend to be ongoing with no set end.
   • Particular partnerships are established for a limited time or until a specific project concludes.

Given this understanding, the correct response to the statement assessing duration is True, as it correctly distinguishes between the two types of partnerships in terms of their potential duration.

Final Answer

True