N.Y. Partnership Law 107 – Nature of interest in partnership
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§ 107. Nature of interest in partnership. A limited partner's interest in the partnership is personal property.
Terms Used In N.Y. Partnership Law 107
- 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.