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Terms Used In Indiana Code 23-4-1-1

  • 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.
   Sec. 1. This chapter may be cited as the Uniform Partnership Act.

Formerly: Acts 1949, c.114, s.1. As amended by P.L.34-1987, SEC.286.