Terms Used In New Jersey Statutes 42:1A-1

  • 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.
1. Sections 1 through 56 and 59 of this act shall be known and may be cited as the “Uniform Partnership Act (1996).”

L.2000,c.161,s.1.