Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

contributio lucri et damni

Read a random definition: firmitas

A quick definition of contributio lucri et damni:

Term: CONTRIBUTIO LUCRI ET DAMNI

Definition: Contributio lucri et damni is a Latin term used in Scots law to refer to the sharing of profits and losses. It is a test used to determine whether a partnership exists. This means that if two or more people are sharing in the profits and losses of a business, they may be considered partners.

A more thorough explanation:

Contributio lucri et damni is a Latin term used in Scots law to refer to the distribution or sharing of profit and loss. It is a test used to determine whether a partnership exists.

For example, if two people start a business together and agree to share the profits and losses equally, they are engaging in contributio lucri et damni. If one partner makes a profit, they both share in the profit. If the business incurs a loss, they both share in the loss.

Another example would be if a group of friends decide to invest in a property together and agree to share any profits or losses equally. This would also be considered contributio lucri et damni.

The examples illustrate the concept of contributio lucri et damni by showing how two or more parties can agree to share in the profits and losses of a business or investment. This sharing of risk and reward is a key characteristic of a partnership, and the use of this test helps to determine whether a partnership exists under Scots law.

contributing to the delinquency of a minor | contribution agreement

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.