What is a key factor in distinguishing ownership of property between the partnership and an individual partner?

The correct answer focuses on the intent of the partners, which is a key factor in determining property ownership in a partnership context. Generally, when partners enter into a cooperative business relationship, they must express their intent regarding ownership and the treatment of assets acquired during the partnership.

If the intent is established that certain property is to be used for partnership purposes, it will typically be deemed partnership property, irrespective of individual capital contributions or ownership titles. The intent can be inferred from written agreements, conduct, and circumstances surrounding the acquisition of the property.

For example, if partners agree that an asset acquired will be used for partnership business, any property gained with partnership funds will belong to the partnership, protecting it from claims by individual creditors of the partners.

Other factors mentioned, such as the capital invested, the number of partners, or the location of the property, can play a role in practical agreements or business operations but do not determine ownership in the same definitive way that intent does. The focus on intent ensures clarity and fairness among partners and serves as a foundational principle in agency and partnership law.