It is referred to the assiciation of two or more persons, also known as partners, with common interest to perform a business with a motive to make profit. Each partners invest time and money into the business and have individual responsibilities as decided in the a partnership deed created at...
partnership (ˈpɑːtnəʃɪp) n 1. (Law) a. a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits b. the deed creating such a relationship ...
in which the holders of Common Units are to receive securities, cash or other assets (a “Partnership Event”), the Partnership shall make appropriate provision to ensure that the holders of Class B Units receive in suchPartnership Eventat least the same consideration as the holders of Common ...
Examples ofPartnership Electionin a sentence If the Board determines to cause the Company to make aPartnership Election, to the extent that the Company has Members that are subject to tax on UBTI, the Company shall use reasonable best efforts, based on advice of the Company’s tax advisers, ...
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How to Use Em Dashes (—), En Dashes (–) , and Hyphens (-) 'Canceled' or 'cancelled'? Why is '-ed' sometimes pronounced at the end of a word? What's the difference between 'fascism' and 'socialism'? More Commonly Misspelled Words ...
relationship. Any person, corporation, partnership, or government agency can act as a principal or agent as long as the person or business has the legal capacity to do so. Under a principal/agent duty, an agent is legally appointed to act on behalf of the principal without conflict of ...
Equity sharing is a partnership where one set of parties provides the capital for buying a property and another manages the property. When sold, the profit or loss is split according to set terms. In some ways, it mirrors the "sweat equity" structure found in some startups. ...
GENERAL WARRANTY DEED: COVENANT AGAINST ENCUMBRANCES Ageneral warranty deedis typically for the benefit of both parties to the transaction. 1979) (indicating a nonconforming culvert that needed replacement was not covered under the purchaser'sgeneral warranty deed, even though the court conceded neither...
Along with the signature of the partners, two witnesses must also sign the agreement in the space provided. A copy of the deed should be provided to all the partners. If there is any alteration in the terms of the partnership, then a resolution needs to be passed which approves the revisi...