Idaho Code 30-23-203 – Partnership Property
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 30-23-203
- 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.
- Property: includes both real and personal property. See Idaho Code 73-114
Property acquired by a partnership is property of the partnership and not of the partners individually.