PARTNERSHIP

Options B, C and D are all matters of fact … whereas option A is a matter of opinion
Facts are indisputable but the opinion of one (or many) person(s) can be claimed to be unfair / biased

Mind you, in America, the fact that Biden won their election and defeated Donald (the Jenius) Trump is apparently claimed to be inaccurate

Thank Heavens that I don’t live in USA

Yes! By definition a joint venture is a partnership for a limited purpose, course of adventure or voyage

You and I could enter into a joint venture specifically to buy a yacht, sail it to the West Indies and sell it. You would buy the boat, I would do the sailing bit, buy the food and supplies necessary, and find and pay the crew members

When we sell the boat for a stonking profit, we work out how much profit we have made by comparing ALL our costs with the sale value of the boat, divide the profit and credit each share to our separate accounts and then divi up the money according to our individual balances

But then, our ‘partnership for a limited purpose, course of adventure or voyage would be over and our business relationship, our joint venture, is finished

That example would be for a successful joint venture. But if we were to enter an arrangement (for a limited purpose, course of adventure or voyage) and it was unsuccessful, then, on the conclusion of that failed enterprise, our venture would automatically be over – and thus our partnership for a limited purpose, course of adventure or voyage (our joint venture) would be automatically terminated

Does that help?

You’re welcome