Louisiana Civil Code 2834 – Liquidation of the partnership.
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Terms Used In Louisiana Civil Code 2834
- 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.
In the absence of contrary agreement, a partnership is liquidated in the same manner and according to the same rules that govern the liquidation of corporations.
A partnership retains its juridical personality for the purpose of liquidation.
Acts 1980, No. 150, §1.