Final answer:
For a partnership by estoppel, the necessary condition is a representation to a third party that a partnership exists. This allows a third party to believe in and rely on the existence of a partnership when, in reality, no formal partnership may be present. The correct answers approximately options c,d.
Step-by-step explanation:
A partnership by estoppel refers to a legal doctrine wherein a third party is led to reasonably believe that a partnership exists due to a representation made by the purported partners, and thus relies on this belief. This concept is relevant to the field of law, particularly within business law and the formation and implications of partnerships.
The correct answer to the question is: b. A representation to a third party that there is in fact a partnership. This is because for a partnership by estoppel to be claimed, one or more parties must represent to others (third parties) that a partnership exists, even if no formal partnership is present. The third party must have relied on this representation to their detriment in order for estoppel to be applicable.
It is important to note that the other options provided do not necessarily contribute to a partnership by estoppel. While the assent of both parties (option a) is important in forming a true partnership, it does not apply directly to estoppel. Similarly, having an agreement in writing (option c) and the sharing of profits (option d) are elements associated with actual partnerships but are not necessary conditions for a partnership by estoppel.