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Simple English definitions for legal terms

partnership distribution

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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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1a2b3c4d26z
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glovediedthisishismom
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1a2b3c4d26z
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babycat
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yeah it’s insane how much better hip flexor stretches can make you feel sometimes
11:28
Probably the most important long term mobility thing you can do
1a2b3c4d26z
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Pigeon stretch GOAT
1a2b3c4d26z
11:29
Stretching was probably the biggest factor in becoming elite in my sport tbh
1a2b3c4d26z
11:29
well mobility in general
m10
11:29
Nah you wanna be wound up tight like a clock. All your parts working in synchronization, never missing a second.
BulbasaurNoLikeCardio
11:30
When I get home I think I will pull up a youtube yoga video and lay out the mat by the fireplace now, feeling guilty I haven't been stretching properly
1a2b3c4d26z
11:30
tighter you are, more potential energy you have. Your body is a spring. It's just physics
m10
11:30
Exactly.
JumpySubsequentDolphin
11:30
yoga classes stress me out
WorthlessAttractiveZombie
11:31
W&L put their scholarship info on the portal for those who were admitted 11/12
m10
11:31
Gotta always be ready to release that energy. Like if I am in a fight at the bar, I just gotta bust out a couple punches. No stretching.
JumpySubsequentDolphin
11:31
the instructor will be like "forget all of the things that youre stressing about" which reminds me of all of the things im stressing about
BulbasaurNoLikeCardio
11:32
I am too competitive to do yoga classes with other people. Try to stretch better or further then hurt myself lmao I am beyond competitive in anything physical.
babycat
11:32
if you guys all pay me to be your lsat tutor I can afford to do Pilates classes
JumpySubsequentDolphin
11:32
hot yoga was fun
JumpySubsequentDolphin
11:32
i loved barre and pilates when i did them together
m10
11:33
Here's an article from Testosterone nation for all you men out there on why stretching is bullshit. https://archive.t-nation.com/training/stretching-is-b-s/
snow
11:36
M so close to crashing out
BulbasaurNoLikeCardio
11:36
@babycat: If the person I am mentoring decides to listen to my advice instead of just discussing my advice I will pay you to tutor her. You seem like a smart, good and well put together person that she can probably learn well from.
babycat
11:37
Aw that’s so sweet Bulbasaur <3
11:39
@m10: stretching absolutely helps with tight tendons lol
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now kiss
m10
11:40
@EvolBunny: Indeed! I am just riffing. Practicing for when I get into Chicago and do standup there on the weekends and get mad pussy.
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