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LSDefine

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

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[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
17:02
I floated marquettes deadline hopefully someone on the WL is thankful
18:10
safety
18:56
Ughhhhhhhhhh
Lets gooo my school was gunning median this last cycle 🤣
21:37
movie recs?
starfishies
21:45
rankings out woo
eggan
22:06
NYU solos columbia any day
Washu, TX, Vandy all move up and did well at 14
I am shocked that NW drops to 10 and NYU moves up to 8
[] c0bra1
23:07
holy cow unc is 18 time to beg to get off the waitlist
[] c0bra1
23:08
"rankings don't matter" i chant as i reorder my preference list
23:22
are the rankings on US News&World Report accurate?
YM-Honor-Student
23:24
No those are incorrect
YM-Honor-Student
23:24
Kansas is t14 and Cornell is rank 50
YM-Honor-Student
23:25
@DrDresSays: I recommend Cinema Paradiso. Makes me cry everytime.
YM-Honor-Student
23:26
The rankings literally did not change in my opinion. Smh. Going by like job outcomes and constitutional law, stayed the same.
23:28
@YM-Honor-Student: thank you!
YM-Honor-Student
23:29
You are welcome!
YM-Honor-Student
23:33
UFlorida should be higher for winning march madness lol.
Napo
1:43
Oof ASU dropped hard
LovelyDay
4:46
Yeah, they’ve been heading in that direction and the methodology change made it even more pronounced. As dumb as these rankings are, think they placed ASU about right
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