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Terms Used In Louisiana Civil Code 2805

  • 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 partnership may adopt a name with or without the inclusion of the names of any of the partners.  If no name is adopted, the business must be conducted in the name of all the partners.

Acts 1980, No. 150, §1.