Vermont Statutes Title 11 Sec. 3503
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Terms Used In Vermont Statutes Title 11 Sec. 3503
- Contract: A legal written agreement that becomes binding when signed.
- 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.
§ 3503. Savings clause
The repeal of any statutory provision by this act does not impair, or otherwise affect, the organization or the continued existence of a limited partnership existing at the effective date of this act, nor does the repeal of any existing statutory provision by this act impair any contract or affect any right accrued before the effective date of this act. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)