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Partnership Contracts

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Chapter Summary

This chapter on partnership contracts contains several articles concerning sleeping partnership. Some of the articles are management of partnership affairs, partner's oblige, joining an existing partnership, liquidation under withdrawal. A partnership contract refers to a contract whereby two or more persons agree to make contributions in common for operation of a collective business, and collectively share the benefits and bear the risks. A contract of sleeping partnership refers to a contract whereby one of the parties agrees to furnish a contribution to an enterprise managed by the other party and the party who furnishes the contribution shares in the profit resulting from the management and is responsible for losses within the limit of his contribution.

Keywords: partnership contracts; sleeping partnership



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