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Terms Used In New Jersey Statutes 42:2A-3

  • 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 any case not provided for in this chapter, the provisions of the “Uniform Partnership Law” (R.S. 42:1-1 et seq.) shall govern.

L.1983, c. 489, s. 3, eff. April 1, 1985.