Wisconsin Statutes 178.0106 – Partnership agreement; effect on partnership and person becoming partner; preformation agreement
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 178.0106
- 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.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
(1) A partnership is bound by and may enforce the partnership agreement, whether or not the partnership has itself manifested assent to the agreement.
(2) A person that becomes a partner is deemed to assent to the partnership agreement.
(3) Two or more persons intending to become the initial partners of a partnership may make an agreement providing that upon the formation of the partnership the agreement will become the partnership agreement.