Under the Revised Uniform Partnership Act

a. partners are co-owners of partnership property
b. partners don't have transferable economic interests
c. partnership property is owned by the partnership
d. the partnership is an aggregate rather than an entity in its own right
Its a toss up between a or d Help!!!

its not D. on page 545 of text book it states. Under the RUPA, a partnership is considered an entity in most situations.

To determine the correct answer to your question, let's break down each option and explain them within the context of the Revised Uniform Partnership Act (RUPA):

a. Partners are co-owners of partnership property: According to RUPA, partnership property is generally considered to be owned by the partnership as a whole, rather than by individual partners. However, each partner does have an ownership interest in the partnership as a whole, which includes the right to share in the profits and losses of the partnership.

d. The partnership is an aggregate rather than an entity in its own right: This statement is false. Under RUPA, a partnership is actually considered to be an entity in its own right, separate from its individual partners. In other words, the partnership is viewed as a distinct legal entity, capable of entering into contracts, acquiring assets, and assuming liabilities.

Given these explanations, it becomes clear that option "a. partners are co-owners of partnership property" is the correct answer under the Revised Uniform Partnership Act. Each partner has an ownership interest in the partnership as a whole, and while the partnership owns the property, individual partners have a shared interest in it.