Massachusetts General Laws ch. 108A sec. 26 – Interest in partnership; profits
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Section 26. A partner’s interest in the partnership is his share of the profits and surplus, and the same is personal property.
Terms Used In Massachusetts General Laws ch. 108A sec. 26
- 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.