Terms Used In Utah Code 48-1d-501

• 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.
• Partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under this chapter or that becomes subject to this chapter under 10, or Section 48-1d-1405. See Utah Code 48-1d-102
• Property: means all property, whether real, personal, or mixed, or tangible or intangible, or any right or interest therein. See Utah Code 48-1d-102
• Transfer: includes :

  (a)	an assignment;

  (b)	a conveyance;

  (c)

  a sale;

  (d)

  a lease;

  (e)	an encumbrance, including a mortgage or security interest;

  (f)	a gift; and

  (g)

  a transfer by operation of law. See Utah Code 48-1d-102      A contribution may consist of property transferred to, services performed for, or other benefit provided to the partnership or an agreement to transfer property to, perform services for, or provide another benefit to the partnership. Enacted by Chapter 412, 2013 General Session   Previous section Next section    Part 5 Contents