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Simple English definitions for legal terms

contributio lucri et damni

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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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HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
14:38
I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
14:40
suck what? (:
Dkk
14:42
suck at predicting
14:43
boooooo
1a2b3c4d26z
14:45
hi guys
1a2b3c4d26z
14:45
how is everyone doing this fine friday
1a2b3c4d26z
14:46
Tonight im going to go for a run and lift some weights and then eat some dinner (probably a burrito) and then I'm going to watch a scary movie with my girlfriend (probably Longlegs). I'm so excited :)
1a2b3c4d26z
14:46
What is everyone else doing tonight
1a2b3c4d26z
14:47
Besides YM of course
14:47
Yoooo I’m a lifter too
14:47
I'm all good, I'm tipsy in Zanzibar finishing an app and laughing my ass off to this:
babycat
14:48
renard what are you drinking?
BulbasaurNoLikeCardio
14:50
Feeling like sad drinking tonight, wife accidentally tossed out my truck keys and those are expensive as fuck to replace. The crappiest part is that the key chain had the "remove before flight" tab from my first aircraft's rocket pods overseas from 6 years ago. Then find out people fucked around and back dated reports at work making me look like a shit bag so I am working later tonight and missing range time which is my weekly relax/me time. Add in my sleep meds stopped working, so I am thinking vodka (so I stay skinny and hot) and pizza by the fireplace kind of friday.
1a2b3c4d26z
14:51
Renard if you're not drinking margs Im gonna throw hands
14:51
Was at a restaurant and they decided to have me try something called "Double Kick" free of charge, it's like a sugar cane liquor with pineapple flavor
1a2b3c4d26z
14:51
missing range time :(
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