Exchange for one-third of the crop as rental

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Reference no: EM131283207

Les and Turner entered into a written agreement whereby Turner was to farm Les's land in exchange for one-third of the crop as rental. The contract also provided that Les was to advance financing and Turner was to furnish the equipment. It was also agreed that after delivery of the required one-third of the crops, all net proceeds and losses were to be shared equally. The contract specifically stated that Les and Turner were not partners, but rather landlord and tenant. Are Les and Turner partners? why or why not?

Reference no: EM131283207

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