New Jersey Statutes 42:2A-12. Nature of partnership interest
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Terms Used In New Jersey Statutes 42:2A-12
- 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 interest is personal property.
L.1983, c. 489, s. 12, eff. April 1, 1985.