18 Guam Code Ann. § 25503
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Terms Used In 18 Guam Code Ann. § 25503
- 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.
- Personal property: All property that is not real property.
A partner’s interest in the partnership is his share of the profits and surplus, and the same is personal property.
SOURCE: CC § 2420.