Massachusetts General Laws ch. 109 sec. 57 – Proper plaintiff
Current as of: 2023 | Check for updates
|
Other versions
Section 57. In a derivative action, the plaintiff must be a partner at the time of bringing the action and (1) at the time of the transaction of which he complains or (2) his status as a partner had devolved upon him by operation of law or pursuant to the terms of the partnership agreement from a person who was a partner at the time of the transaction.
Terms Used In Massachusetts General Laws ch. 109 sec. 57
- 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.
- Plaintiff: The person who files the complaint in a civil lawsuit.