N.Y. Partnership Law 121-107 – Nature of business
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§ 121-107. Nature of business. A limited partnership may carry on any business that a partnership without limited partners may carry on except as prohibited by law.
Terms Used In N.Y. Partnership Law 121-107
- 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.