Missouri Laws 358.240 – Extent of property rights of a partner
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Terms Used In Missouri Laws 358.240
- 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.
- Property: includes real and personal property. See Missouri Laws 1.020
The property rights of a partner are his rights in specific partnership property, his interest in the partnership, and his right to participate in the management.