Tennessee Code 61-3-110 – Powers
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 61-3-110
- 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 limited partnership has the capacity to sue and be sued in the name of the partnership and the power to do all things necessary or convenient to carry on the partnership’s activities and affairs.