Alabama Code 10A-8A-1.08. Effect of partnership agreement; nonwaivable provisions
Current as of: 2024 | Check for updates
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Attorney's Note
Under the Alabama Code, punishments for crimes depend on the classification. In the case of this section:Class | Prison | Fine |
---|---|---|
Violation | up to 30 days | up to $200 |
Terms Used In Alabama Code 10A-8A-1.08
- Appraisal: A determination of property value.
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Fiduciary: A trustee, executor, or administrator.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
- writing: includes typewriting and printing on paper. See Alabama Code 1-1-1