LSDefine

Simple English definitions for legal terms

partnership at will

Read a random definition: expense ratio

A quick definition of partnership at will:

A partnership is when two or more people own and run a business together to make money. There are different types of partnerships, like a general partnership where everyone is equal, or a limited partnership where some people only invest money and don't help run the business. A partnership at will means that any partner can leave at any time without getting in trouble. A partnership by estoppel happens when someone acts like they're a partner, even if they're not officially one.

A more thorough explanation:

A partnership at will is a type of partnership where any partner can dissolve the partnership at any time without incurring liability. This means that the partnership does not have a specific duration or end date, and can be dissolved by any partner at any time.

For example, if two friends decide to start a business together and form a partnership at will, either friend can decide to end the partnership at any time without facing any legal consequences.

This type of partnership is different from a partnership for a term, which has a specific duration or end date. In a partnership for a term, a partner who ends the partnership before the specified end date may be held liable for breaching the partnership agreement.

partnership association | partnership certificate

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 3 👎

Dkk

15:48

Indeed, the legendary man himself.

cheriebomb

15:49

I would go to blow my back out by the bay boston

llama

15:50

lift with ur back not your legs, its better to have a blown back than two bad legs

CynicalOops

15:53

Blow and back day out by boston bay

cheriebomb

15:59

so true

Dkk

16:03

Of course. Man sad Ricky Henderson died. That was my favorite athlete of all time.

windyMagician

16:10

is it dumb that I rlly want to go to Mich even tho I have a full ride to umn

llama

16:12

no-value as a consumer often means more than the price

Dkk

16:15

@windyMagician: Nah michigan is better than UMN

Dkk

16:15

My sister just officially graduated, yay!

llama

16:16

awesome @Dkks sister

llama

16:16

prolly named veronica or sarah

windyMagician

16:16

@Dkk: for public defense tho?

windyMagician

16:16

Sarah in the bathroom

texaslawhopefully

16:17

@windyMagician: not at all. Michigan is also very generous with aid, so if you get enough it makes perfect sense to take it.

windyMagician

16:17

fuck okay

windyMagician

16:17

going to my dream school is crazy

KnowledgeableRitzyWasp

16:18

michigan also has better options if you do PD for 10 years then want to do something else

windyMagician

16:19

also would love to clerk for my federal district court even tho I know its hella competitive, I think mich sets me up better?

llama

16:20

would be a great point to bring up when ur deciding / visiting each place- see what recent placement looks like

texaslawhopefully

16:23

For fed clerkships by far Michigan places better. I think it’s like 14-15 percent

windyMagician

16:25

sticker debt is high-key scary tho

texaslawhopefully

16:26

I’m sure you’ll get good merit aid though. Look at Michigan’s 509 report. They’re very generous.

cheriebomb

16:34

i am going to wait patiently into january to get into a law school

cheriebomb

16:34

then i will start tweaking

texaslawhopefully

16:42

January could not come any sooner

cheriebomb

16:54

i hope you guys all have a very lovely holiday season

cheriebomb

17:02

has everyone finished procuring their presents?

cheriebomb

17:02

I got my sis a vintage leather jacket off ebay she’s gonna freak she only has fake stuff

riverstart-prize

17:09

hi all

LSD+ is ad-free, with DMs, discounts, case briefs & more.