Often, as a business operates, the partners bring some of their personal items for use by the partnership so that the partnership does not have to incur the expense of buying these items. These items are then extensively used by the partnership. Over time, do you see some potential sources of disagreement in doing this? What particular problem does this pose when these items are changed or added to in form or character at the expense of the partnership? How important is it that there be some written statement signed by the partners at the time a partner brings a personal asset to the partnership for use in the operation of the business?
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Often, as a business operates, the partners bring some of their pers.docx
1. Often, as a business operates, the partners bring some of their
personal items for use by the partnership so that the partnership
does not have to incur the expense of buying these items. These
items are then extensively used by the partnership. Over time,
do you see some potential sources of disagreement in doing
this? What particular problem does this pose when these
items are changed or added to in form or character at the
expense of the partnership? How important is it that there be
some written statement signed by the partners at the time a
partner brings a personal asset to the partnership for use in the
operation of the business?
