Louisiana Civil Code 2822 – Partnership without term; withdrawal.
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Terms Used In Louisiana Civil Code 2822
- 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.
If a partnership has been constituted without a term, a partner may withdraw from the partnership without the consent of his partners at any time, provided he gives reasonable notice in good faith at a time that is not unfavorable to the partnership.
Acts 1980, No. 150, §1.