North Carolina General Statutes 59-701. Nature of partnership interest
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Terms Used In North Carolina General Statutes 59-701
- 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 interest is personal property. (1985 (Reg. Sess., 1986), c. 989, s. 2.)