21 Guam Code Ann. § 1218
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Terms Used In 21 Guam Code Ann. § 1218
- 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.
Every interest created in favor of several persons in their own right is an interest in common, unless acquired by them in partnership, for partnership purposes, or unless declared in its creation to be a joint interest, as provided in § 1215, or unless acquired as community property.
SOURCE: CC § 686.