Contracts Flashcards
Forming Partnership
To form a partnership, at least two persons must intend to carry on a business for profit as co-owners. The agreement need not be in writing and it is not necessary that such persons have the specific intent to form a partnership. In fact, the co-owners’ subjective intent not to form a partnership does not prevent the association from being a partnership. Here, Laurie and Addie’s agreement to share lottery profits is arguably a partnership.
Attorneys Fees in Breach of Contract Action
In Florida, as in most jurisdictions, an award of attorney’s fees is not permitted in a contract action unless authorized by statute or by the contract itself. In this case, the contract terms did not provide for attorney’s fees, and such fees are not otherwise authorized by statute.
