Vermont Statutes Title 11 Sec. 3281
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Terms Used In Vermont Statutes Title 11 Sec. 3281
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under section 3212 of this title, predecessor law, or comparable law of another jurisdiction and includes for all purposes of the laws of this State a limited liability partnership. See
§ 3281. Definitions
In this subchapter:
(1) “General partner” means a partner in a partnership and a general partner in a limited partnership.
(2) “Limited partner” means a limited partner in a limited partnership.
(3) “Limited partnership” means a limited partnership created under the Uniform Limited Partnership Act, predecessor law, or comparable law of another jurisdiction.
(4) “Partner” includes both a general partner and a limited partner. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)