Contents

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Partership,"A partnership is 1) an association, 2) between two or more people, 3) to carry on as co-owners, 4) a business for profit. Profits are shared equally among a partnership."
Duties,A partner owes the same duties as an agent owes to a principal to the partnership.
Partnership Debt,An incoming partner is not liable for pre-existing debt. An outgoing partner is still liable for debt unless notice of his dissociation is given to creditors or 90 days after the dissociation is filed with the secretary of state.
RUPA,Revised Uniform Partnership Act
Partnership Dissolution,"If the partnership was formed pursuant to a partnership agreement, the dissociation of any single partner does not create dissolution unless a majority  of the remaining parties vote to dissolve within 90 days of the event of dissociation."
Winding Up,"The partnership and the individual general partners retain liability on all transactions ended into to windup old business. Creditors must be paid first, then capital contributions made by partners, then an equal share of the profits given to the partners."
Limited Partnership,"A limited partnership is a partnership where the limited partner has inferior rights. However, a limited partner is not liable for debts of the partnership. A limited partnership must be filed as such with the secretary of state. "

Version data entries

9 entries across 9 versions & 1 rubygems

Version	Path
hemlock-0.1.8	flashcards/Partnership-Table 1.csv
hemlock-0.1.7	flashcards/Partnership-Table 1.csv
hemlock-0.1.6	flashcards/Partnership-Table 1.csv
hemlock-0.1.5	flashcards/Partnership-Table 1.csv
hemlock-0.1.4	flashcards/Partnership-Table 1.csv
hemlock-0.1.3	flashcards/Partnership-Table 1.csv
hemlock-0.1.2	flashcards/Partnership-Table 1.csv
hemlock-0.1.1	flashcards/Partnership-Table 1.csv
hemlock-0.1.0	flashcards/Partnership-Table 1.csv