Terms Used In Hawaii Revised Statutes 425-110

  • 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 § 425-109, a predecessor law, or comparable law of another jurisdiction. See Hawaii Revised Statutes 425-101
  • Property: means all property, real, personal, or mixed, tangible or intangible, or any interest therein. See Hawaii Revised Statutes 425-101

Property acquired by a partnership is property of the partnership and not of the partners individually.