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Simple English definitions for legal terms

contributio lucri et damni

Read a random definition: money changer

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

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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