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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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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
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.
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