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13 Cards in this Set
- Front
- Back
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Co-ownership
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does not require that the property used in the business be owned by the partnership or in equal shares by the partners
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Joint Venture
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express or implied agreement to carry on an enterprise
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Charging Order
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a creditor who gets a judgment against a partner, court may appoint a receiver to look after the creditors interests
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Jointly Liable
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if the partnership does not pay off the liability
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Dissociation
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change in the relation of the partners cause by any partner ceasing to be associated with the carrying on of the business
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Partnership at Will
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where no period of time or specific undertaking is agreed on
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Buyout Agreements
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agree to permit a partner to sell his or her interest to another and to accept that person as a substitute partner
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Contracts
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partners can bind the partnership and other partners
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Torts
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partnership is liable for the torts of partners in the carrying out of business of the partnership
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Crimes
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partnership can be held liable on a crime where the partnership is a criminal enterprise
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Nonwrongful
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power couple with the right
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Wrongful
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power without the right
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Automatic
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death, bankruptcy, illegality
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