- articles of partnership
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the agreement between the partners establishing the partnership. The matters normally dealt with in articles of partnership are the firm's name, the duration of the partnership, capital and provision for dissolution. Many provisions of the Partnership Act 1890 apply only in the absence of any agreement to the contrary, with the consequence that the articles may supersede provisions of the statute. In Scotland the term partnership agreement is usually used. See partnership.
Collins dictionary of law. W. J. Stewart. 2001.
- articles of partnership
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A written compact by which parties agree to pool their money, labor, and/ or skill to carry on a business for profit. The parties sign the compact with the understanding that they will share proportionally the losses and profits according to the provisions and conditions that they have mutually assented would govern their business relationship.
Dictionary from West's Encyclopedia of American Law. 2005.
- articles of partnership
-
A written compact by which parties agree to pool their money, labor, and/ or skill to carry on a business for profit. The parties sign the compact with the understanding that they will share proportionally the losses and profits according to the provisions and conditions that they have mutually assented would govern their business relationship.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
