New Mexico Statutes > Chapter 54 > Article 10 – Conversion to Limited Partnership.
Current as of: 2024 | Check for updates
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Other versions
| § 54-1A-1001 | Statement of qualification |
| § 54-1A-1002 | Statement of qualification; name |
| § 54-1A-1003 | Annual report |
Terms Used In New Mexico Statutes > Chapter 54 > Article 10 - Conversion to Limited Partnership.
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Service of process: The service of writs or summonses to the appropriate party.
New Mexico Statutes > Chapter 54 > Article 10 – Actions by Partners
Current as of: 2024 | Check for updates
|
Other versions
| § 54-2A-1001 | Direct action by partner |
| § 54-2A-1002 | Derivative action |
| § 54-2A-1003 | Proper plaintiff |
| § 54-2A-1004 | Pleading |
| § 54-2A-1005 | Proceeds and expenses |
Terms Used In New Mexico Statutes > Chapter 54 > Article 10 - Actions by Partners
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- 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.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.