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Simple English definitions for legal terms

family partnership

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A quick definition of family partnership:

A family partnership is when family members work together to run a business and make money. It's like a team where everyone helps out and shares the profits or losses. There are other types of partnerships too, like ones where people who aren't related work together, or ones where some partners have more control than others.

A more thorough explanation:

A family partnership is a type of business partnership where the partners are related to each other. It is governed by the same laws and regulations as any other partnership.

For example, a father and son may start a family partnership to run a small business together. They would share the profits and losses of the business according to their agreed-upon terms.

Another example could be a group of siblings who inherit a family farm and decide to form a partnership to manage and operate it together.

Family partnerships are a way for family members to work together and share in the success of a business. However, it is important to have a clear partnership agreement in place to avoid any misunderstandings or conflicts.

family of nations | family-partnership rules

General

General chat about the legal profession.

General >T14 Off Topic

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limpweeny

11:19

Election Day election day

TheAdoptedOne

11:19

Write in Dean Z vote

limpweeny

11:20

Saw a guy that wrote in Biden and he said no retirement for you buddy

1a2b3c4d26z

11:20

@ClockworkBlue: god I hope that's true

TheAdoptedOne

11:20

if the country was run the same as Mich Law it would be a better place

ClockworkBlue

11:21

Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."

TheAdoptedOne

11:21

imagine if it was like Berkley applications

1a2b3c4d26z

11:22

Election status: Complete

1a2b3c4d26z

11:22

For months

triplethread

11:23

erection day

TheAdoptedOne

11:23

https://www.reddit.com/r/lawschooladmissions/comments/1gixhib/berkeleys_application_is_snobby_af/

soapy

11:23

Shoutout to Robinhood's election bet not resolving until January

triplethread

11:23

is anyone else like certain that trump will win

ambitiouslizard

11:23

he aint winning

triplethread

11:23

i like being a pessimist

ambitiouslizard

11:24

he lost his re-election, why would he win this one?

1a2b3c4d26z

11:25

I have no idea why people have so much beef w berkeley's app

ClockworkBlue

11:25

I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.

1a2b3c4d26z

11:26

Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on

TheAdoptedOne

11:28

I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy

ClockworkBlue

11:31

I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?

KnowledgeableRitzyWasp

11:33

the more risk you take the higher chance of it backfiring

TheAdoptedOne

11:33

my instinct would be low humor bc if they have such a complex application I would feel hesitant to use a major part of it as a joke. They clearly take their admissions seriously and a joke video might convey the wrong thing at the wrong time. I think that humor is best put into a PS anecdote where it adds some shine to your personality

KnowledgeableRitzyWasp

11:33

safe is always better

ClockworkBlue

11:34

All good points

triplethread

11:34

@TheAdoptedOne: amazing

ClockworkBlue

11:35

I almost did one for Vanderbilt and my idea was to do a documentary-style vid where I and others talked about me like it was an ESPN 30 for 30.

1a2b3c4d26z

11:36

I was risky in maybe one or two of my essays in that some parts read as slightly humorous, but I really tried to suss out the vibe for each school. I feel like Berk and UMich may be more accommodating of a more "out there" approach than other schools I applied to

1a2b3c4d26z

11:37

but that's literally just going off vibes

TheAdoptedOne

11:37

it looks like Berk vid is in response to a known prompt. My thinking is it may be a counter to AI by getting people to have to respond to what is essentially an essay prompt but on video

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