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Jul 20, 2016 · Domestic partnerships are defined by the state’s family law code. Couples who cannot agree about division of property, child custody (if the couple has children together), and child support, must apply to the family court for intervention.
partnership in British English. (ˈpɑːtnəʃɪp ) noun. 1. a. a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits. b. the deed creating such a relationship. c.
Jun 25, 2024 · Limited Partnership - LP: A limited partnership (LP) exists when two or more partners unite to jointly conduct a business in which one or more of the partners is liable only to the extent of the ...
Find 56 different ways to say PARTNERSHIP, along with antonyms, related words, and example sentences at Thesaurus.com.
A voluntary contract between two or more competent persons to place their money, effects, labor, and skill, or some or all of them, in lawful commerce or business, with the understanding that there shall be a proportional sharing of the profits and losses between them. Story, I’artn. Find the legal definition of PARTNERSHIP from Black's Law ...
Partner Actions – the partnership is viewed as a whole body in the eyes of the law and thus each partner is liable for the other partner’s actions which could be fraudulent or illegal. Departure and Arrival of Partners – if one or more partners decide to either leave or join the partnership, the partnership assets, the business or businesses, need to be revalued and each partner shares ...
Definition and meaning. By law, a partnership is a relationship formed by the agreement of at least two people to run a business as co-owners. In other words, a partnership is a firm consisting of several owners – each one has invested in the business. In some cases, all the partners are actively involved in the business – they work in it ...
