Louisiana Civil Code 2837 – Partnership in commendam; definition.
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Terms Used In Louisiana Civil Code 2837
- 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 partnership in commendam consists of one or more general partners who have the powers, rights, and obligations of partners, and one or more partners in commendam, or limited partners, whose powers, rights, and obligations are defined in this Chapter.
Acts 1980, No. 150, §1.