Revised Uniform Partnership Act

Partnerships Defined and Their Governing Laws

November 24, 2009

If you are interested in a partnership venture of any type, you might be considering a General Partnership, Joint Venture, Limited Partnership, or a Limited Liability Partnership.
A General Partnership takes place when two or more persons join forces to carry on as co-owners a business for profit.
Each state adopts its own model act to govern [...]

Read the full article →

General Partnership Overview

November 24, 2009

As you might know by now a General Partnership is mainly influenced by the RUPA (Revised Uniform Partnership Act). RUPA takes the form of a contract and provides default rules of operations and establishment.
Starting a partnership should be easy. Yes indeed, it’s the easiest form of business entity. Simply go ahead and agree with your [...]

Read the full article →

Partnership by Estoppel Explained

November 24, 2009

Are you a partner by Estoppel? “What exactly is that?” you might be asking. Basically, when you think about a partnership, a partner that’s not accepted as a business associate by the other partners is not a partner to anyone. There is an exception to this rule and this takes place when according to the [...]

Read the full article →