18 Guam Code Ann. § 27101
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Terms Used In 18 Guam Code Ann. § 27101
- 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 limited partnership is a partnership formed by two or more persons under the provisions of § 27201, having as members one or more general partners and one or more limited partners. The limited partners as such shall not be bound by the obligations of the partnership.
SOURCE: CC § 2477.
NOTE: No CC §§ 2473-76 existed in the original Civil Code.
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ARTICLE 2
FORMATION OF PARTNERSHIP