Three partners have formed a general partnership that they desire to last for several years. They have not agreed to any specified time period. Which of the following is true under the Revised Uniform Partnership Act?

1. The partnership agreement is required to be in writing.
2. All three partners are required to share profits or losses equally.
3. Each of the three partners has an equal right to participate in the management of the partnership.
4. A partner may assign his or her interest in the partnership only if the other two agree.