- hints of partnership are sharing profits from the business - more than sharing profits is necessary, must have a role in managerial structure - a partnership is a contract outlining rights, duties, and obligation of each partner - Partner is an agent to all other parties during partnership business - a minor may become a partner but the contract is voidable at the minors option - the partner is accountable for other partner's actions - a firm is liable for any torts committed by a partner during the ordinary course of business partnerships - a new partner to a firm may not be liable for existing partnership debts unless the debt is assumed