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Simple English definitions for legal terms

law of the partnership

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A quick definition of law of the partnership:

The law of the partnership is a rule that says the agreement made by the partners controls how the partnership works. This means that the partners can decide how they want to run the partnership and what their roles and responsibilities will be. It's like making a plan with your friends for a game or project, where everyone agrees on what they will do and how they will do it.

A more thorough explanation:

Definition: The law of the partnership refers to the rule that the terms and conditions of a partnership are determined by the agreement made between the partners. This means that the partners have the freedom to decide how they will run the partnership, how profits and losses will be shared, and what the roles and responsibilities of each partner will be.

Example: For instance, if two friends decide to start a business together, they can create a partnership agreement that outlines the terms of their partnership. They can decide how much money each partner will contribute to the business, how profits and losses will be shared, and what will happen if one partner wants to leave the partnership.

Another example: Let's say that three people decide to start a restaurant together. They can create a partnership agreement that specifies how much each partner will invest in the business, how profits and losses will be divided, and what the responsibilities of each partner will be. They can also decide how they will make decisions about the restaurant, such as whether they will have equal voting rights or whether one partner will have more say in certain areas.

The law of the partnership gives partners the flexibility to create a partnership that works for them. By agreeing on the terms of their partnership, partners can avoid misunderstandings and conflicts down the line.

Law of The Hague | law of the place

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18:44
fuck me
18:44
i hope i am remembering it way worse
18:44
lmao yeah i think in most circumstances you shouldn’t cancel cuz they might assume the score is worse than it was
18:45
remembering the lsat?
18:45
yur
18:45
I’ve been doing that too you’ll be fine
18:45
i just saw that some kids a year below me in high school are starting at good ass schools too fuckkk
18:46
what are good ass schools to you?
18:46
do u have a dream school?
18:46
well i saw one is at fordham and one is at upenn and ik fordham isnt t14 but its better than temple and villanova
18:47
dream is duke
18:47
ooh interesting choice why Duke?
18:48
i got into fordham and so did the dumbass I was dating for like two months it’s not that hard
18:48
by which I mean if they let him in I don’t trust their standards
18:49
my dad went to duke law so i have been a fan forever
18:49
Duke is fun. I took a trip there when I was 19 or so. Really good time when I was a young rapscallion.
18:49
and ik i just dont think i gave myself enough time for a guaranteed 170+ performance
18:49
I didnt see if anyone answered my UGA question. Did anyone answer it?
18:53
@Dkkm11: are you not still a young rapscallion?
19:00
Nah, I am gray-bearded wizard.
19:02
Hmmm. I guess that’s okay.
19:03
Honestly, idk what I would call myself these days. Will probably not know until I can reflect on this part of my life which will be idk, in like 5 years when I am 32.
19:06
Does your life come in 5 year epochs typically?
19:06
Someone told me a while ago that I was probably molested as a kid because I don’t really have any clear memories of my childhood. But I don’t think I was.
1a2b3c4d26z
19:10
Inside thoughts!
19:10
this is where I post my inside thoughts
19:11
Nah, the fucked up thing about therapists is they try and make you think your parents are your enemy 99% of the time and really they should be telling you that your parents have almost no effect on the rest of your life. If they can get you to keep focusing on your parents they can keep making money.
19:12
Yeah, my life really does flow in about 5 years periods.
19:12
My crypto also flows in 5 day epochs too.
19:16
what do you do with your days as an unemployed crypto guy? do you play an instrument or something
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