Louisiana Civil Code 2831 – Termination of the partnership; rights of third parties.
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Terms Used In Louisiana Civil Code 2831
- 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.
The termination of a partnership, for any reason, does not affect the rights of a third person in good faith who transacts business with a partner or a mandatary acting on behalf of the former partnership.
Acts 1980, No. 150, §1.