Partnership and Private Corporations (Classic Reprint)
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| Partner: | buecher.de |
| Hersteller: | Forgotten Books (Wilson, Albert Edward) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Partnership and Private Corporations The law of partnership, with but few exceptions, is the law of contracts and agency. A knowledge of these two subjects will explain practically every characteristic. The foundation of a partnership is an agreement; its operation is an exposition of the law of agency. Certain individuals come together and agree upon a certain way of doing a joint business. A written agreement is usually drawn, in which their respective rights are defined. The agreement, however, may be oral. Unlike the case of a corporation, the state has nothing to do with the creation of partnerships, although the agreement is sometimes recorded. No new thing is created by the agreement. The individuals arc as much individual as before, in the eye of the law. They have merely created for themselves a new and particular set of duties each to the other, which their former relations did not give rise to. When sued the firm is brought into court not as a firm but as individuals doing business under a certain name. If a member of a firm dies, the firm automatically is dissolved, its affairs closed up, and a settlement of the interests of the deceased is made with his heirs and personal representatives. If a person desiring to join an existing partnership buys out the interest of one of its members he docs not thereby become a partner. The consent of the other partners must be first had. If this consent cannot he obtained the firm must dissolve and the interest acquired by the would-be member must be ascertained and turned over to him. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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