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LSDefine

Simple English definitions for legal terms

trading partnership

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A quick definition of trading partnership:

A trading partnership is when two or more people work together to run a business and make money by buying and selling things. They share the profits and losses. There are different types of partnerships, like a general partnership where everyone is equal, or a limited partnership where some people invest money but don't have as much say in how the business is run. Sometimes partnerships are formed just for one project or event. If someone pretends to be in a partnership but really isn't, they can still be held responsible for any debts the partnership owes.

A more thorough explanation:

A trading partnership is a type of partnership where the primary business involves buying and selling goods or services. It is a voluntary association of two or more people who jointly own and operate a business for profit. Under the Uniform Partnership Act, a partnership is presumed to exist if the persons agree to share proportionally the business's profits or losses.

For example, two friends decide to start a clothing store together. They agree to share the profits and losses equally. This is a trading partnership because their business involves buying and selling clothes.

Another example is a partnership between two farmers who grow and sell crops together. This is also a trading partnership because their business involves buying and selling agricultural products.

Trading partnerships are different from other types of partnerships, such as family partnerships or limited partnerships, because their primary focus is on buying and selling goods or services.

trading curb | trading voyage

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22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
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