Write an essay (including footnotes but excluding any bibliography) answering the question. Please support your answer by citing relevant authority (i.e. statutes and/or case law etc) where appropriate:
The question:
A. You have some inside connection to a partnership but you are not a partner or you are a former partner. What are the risks to you in each of these situations if third parties come to believe you to be or to still remain a partner? Give illustrative examples of situations in which there could have been holding out/apparent partnership and explain the issues for the partners and partnerships in these illustrative examples.