B is corrent. A partnership is an association of two or more persons to carry on a business as co-owners for profit. A partnership is formed by an agreement which can be express, implied, or apparent. The partnership that is formed by express agreement need not be in writing; rather, it may be formed orally. Thus, execution of a written partnership agreement is not necessary to create an express partnership. A written partnership agreement is not required unless the agreement falls within the Statute of Frauds.
A is incorrect. Intention to conduct a business for profit is a necessary element of an express partnership.
C is incorrect. This is a necessary element of an express partnership.
D is incorrect. An agreement to share ownership of the partnership is a necessary element of an express partnership.
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