18 Guam Code Ann. § 25309
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Terms Used In 18 Guam Code Ann. § 25309
- 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.
A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except this liability shall be satisfied only out of partnership property.
SOURCE: CC § 2411.
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ARTICLE 4
RELATION OF PARTNERS TO ONE ANOTHER