North Carolina General Statutes 59-56. Nature of partner’s interest in the partnership
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Terms Used In North Carolina General Statutes 59-56
- 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.
A partner’s interest in the partnership is his share of the profits and surplus, and the same is personal property. (1941, c. 374, s. 26.)