N.Y. Partnership Law 117 – Rules of construction
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§ 117. Rules of construction. (1) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this article.
Terms Used In N.Y. Partnership Law 117
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
(2) This article shall be so interpreted and construed as to effect its general purpose.
(3) This article shall not be so construed as to impair the obligations of any contract existing when this article takes effect, nor to affect any action or proceeding begun or right accrued before this article takes effect.