Hi, my name is XXXXX XXXXX I will be glad to assist you,
1. Liz and Nero are operating their business as a partnership and if they are dividing profits and losses equally, they are equal partners. Since they are not using their names as the name of the partnership, they would have to file a Fictitious Name Registration in the State in which they formed their partnership. They would have to obtain a License to do business in their home State as well as in each state they intended to conduct their business.
2. Both Liz and Nero will be liable for the cost of the oven on the legal principle of "Agency". Regardless of any agreement they have among themselves, as between the partnership and third parties, each partner has authority to bind the partnership in transactions with third parties. Therefore, when Liz purchased the oven, the seller looked upon Liz as acting on behalf of the partnership and could rely on her status as partner who had authority to bind the partnership.
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