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Simple English definitions for legal terms

partnership distribution

Read a random definition: Worker Adjustment and Retraining Notification Act

A quick definition of partnership distribution:

Partnership distribution is when a partnership pays one of its partners with money or property from the earnings or as an advance against future earnings. It can also be a payment of the partners' capital in partial or complete liquidation of the partner's interest. It's like when you and your friend start a lemonade stand together, and you split the money you make at the end of the day. That's a partnership distribution!

A more thorough explanation:

Definition: Partnership distribution refers to a payment made by a partnership to one of its partners. This payment can be in the form of cash or property and can be made out of the partnership's earnings or as an advance against future earnings. It can also be a payment of the partner's capital in partial or complete liquidation of their interest in the partnership.

Examples:

  • John and Jane are partners in a small business. At the end of the year, the business made a profit of $50,000. The partnership agreement states that the profits will be split equally between the partners. Therefore, John and Jane each receive a partnership distribution of $25,000.
  • ABC Partnership is dissolving, and its assets are being liquidated. The partnership has $100,000 in assets, and after paying off all debts and obligations, there is $50,000 left to distribute to the partners. The partnership agreement states that the profits will be split 60/40 between the two partners. Therefore, Partner A receives a distribution of $30,000, and Partner B receives a distribution of $20,000.

These examples illustrate how partnership distribution works. In the first example, the partnership made a profit, and the partners received a distribution based on their agreed-upon profit-sharing arrangement. In the second example, the partnership is dissolving, and the partners are receiving a distribution of the remaining assets based on their ownership percentage.

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@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!
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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.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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