HopefullyInLawSchool
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Simple English definitions for legal terms
quasi-partner
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A quick definition of quasi-partner:
A quasi-partner is someone who works with others in a business, but it's not really a partnership. For example, a joint venture is a type of quasi-partnership. They don't have the same legal responsibilities as a regular partner, but they still have some involvement in the business.
A more thorough explanation:
A quasi-partner is a person who joins others in an enterprise that appears to be, but is not, a partnership. This means that they are not officially considered a partner, but they are involved in the business in some way.
For example, a joint venturer is a quasi-partner. They work with others on a project, but they are not legally considered a partner in the business.
Another example could be a person who invests in a business in return for a profit share, but they do not have an active voice in management of the firm. They are still considered a quasi-partner because they have a financial interest in the business.
These examples illustrate how a quasi-partner is someone who is involved in a business venture, but they are not officially considered a partner. They may have a financial interest or work on a project, but they do not have the same legal rights and responsibilities as a true partner.