Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Revised Uniform Partnership Act of 1997 (RUPA)

Read a random definition: in lecto aegritudinis

A quick definition of Revised Uniform Partnership Act of 1997 (RUPA) :

The Revised Uniform Partnership Act of 1997 (RUPA) is a set of rules that govern how partnerships work. A partnership is when two or more people work together to run a business. RUPA is an updated version of the rules that were made in 1914. The rules cover things like how partnerships are created, who is responsible for what, and what happens if the partnership ends. RUPA only applies to certain types of partnerships, not all of them. It is used in many states in the United States when there is no agreement between partners or when an agreement does not cover a specific issue.

A more thorough explanation:

The Revised Uniform Partnership Act of 1997 (RUPA) is a set of updated rules that govern general partnerships and limited liability partnerships in the United States. It was created by the Uniform Law Commission to replace the Uniform Partnership Act of 1914 (UPA).

The UPA is a model set of rules that governs how partnerships are created, how they are managed, and how they are dissolved. It applies to general partnerships and limited liability partnerships, but not to limited partnerships.

For example, if two people start a business together and do not create a partnership agreement, the UPA will govern how their partnership is managed. If they do create an agreement, but it does not address a particular issue, the UPA will provide guidance on how to handle that issue.

The RUPA updates and clarifies many of the rules in the UPA to reflect changes in business practices and legal standards. It has been adopted by many states in the US and is used to govern partnerships in those states.

review | Revival

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
18:25
think it is safe to say it aint happenin today\
damn it was a slow day today
BulbasaurNoLikeCardio
18:26
I got a custom built Leftie ar15 I run suppressed, a regular ar15, a .270 axis savage bolt gun, xd9, xd40 and have my AR10 I run suppressed.
BulbasaurNoLikeCardio
18:26
I do not think we will see a wave until after thanksgiving. Adcoms will be nice and not ruin someones thanksgiving with an R
18:28
ruin my thanksgiving law schools uwu
PerpetualCheerfulBeaver
18:53
I really thought a texas schools wave was going to hit today...guess it will be December 1
7Rings
19:00
No news is good news 😜
PerpetualCheerfulBeaver
19:10
the mentality im embracing
ClassyPleasantHeron
19:23
You will see some A waves next week, just before Thanksgiving. Schools like to give people things to talk about over the holidays.
19:26
my predict monday berk from earlier td
snow
19:33
Oregon decision rendered…
snow
19:33
Bro why don’t they just tell me lol
damn ive been under review for a month and no movement, when did u apply snow?
snow
19:39
The day apps opened. I still don’t know what the decision is tho lol
Dang. Crossing my fingers for you!!
snow
19:41
Thank you!!
shaquilleoatmeal
19:44
Snow dude wtf you been
snow
19:46
Working! I was prepping for a trial but it got reset!
snow
19:47
Have you don your gulc interview?
JumpySubsequentDolphin
19:47
@snow: snow!!!! I’m in Oregon should I break into admissions office and demand your decision be sent
shaquilleoatmeal
19:49
Better to be prepared than not, otherwise it always happens when you don’t prep
shaquilleoatmeal
19:50
Yea did it a week and half ago, told us we won’t hear anything until end of December if we’re lucky, most likely first week of jan
shaquilleoatmeal
19:50
Said no one works after Monday this week and no one works week of Christmas
shaquilleoatmeal
19:50
So holiday takes time away from app review
snow
19:54
True @shaq and do it jumpy!!
20:06
Hi everyone! Decided a bit too late that I wanted to go into law. GPA currently stands at 3.76 (one more semester to go) and I'm interested in going into immigration law. Anybody got any advice for LSAT studying and applications? I plan on taking a gap year to have some time for internships and such :)
snow
20:08
Apply for the LSAT fee waiver to try to mitigate the cost of materials! 7Sage is $1 for a year if you have the fee waiver. I also think you should try to work in an immigration firm in some way to see if it’s something you really want to pursue and to add to your resume. Good luck!!! One tip I would also give is to not sign up for the LSAT until you’re practice tests average are around the score you’re aiming for
snow
20:08
Your*
snow
20:08
You got this! :)
madollyy
20:09
thank you snow <3
LSD+ is ad-free, with DMs, discounts, case briefs & more.