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15 Mar 2021, 4:59 am by Franklin C. McRoberts
The Court ruled that the complaint “does not allege any facts demonstrating the parties intended to maintain a partnership relationship following the incorporation of the entities,” and “does not allege any action taken by the partnership in any meaningful way permitting an allegation the venture survived the incorporation. [read post]
26 Apr 2023, 10:30 am
Dissolution of the Partnership  No one likes to think about what would happen if the partnership does not work out, but it is essential to have a plan for dissolution in place. [read post]
16 Feb 2012, 10:46 am by Francis M. Boyer, Esq.
Some partnerships do not require much, or anything, to be filed when the partnership is created. [read post]
8 Feb 2022, 6:03 am
Each partner in an at-will partnership can obtain a cash payout of his interest at any time. [read post]
7 Nov 2022, 1:56 pm by Paul S.O. Barbeau
  Although the general partner acts as agent for the limited partner, the limited partner’s band status does not impact the general partner’s obligation to pay PST since the limited partner does not own the assets. [read post]
6 Feb 2024, 6:28 pm by Evan M. Hamme and Breanna N. Zagorski
  Citing the Department’s guidance, the Tribunal held that the property that produced the income was the partnership’s intangible investment property, which the Tribunal distinguished from the partner’s intangible partnership interest.[3]  Further, the Tribunal found that the taxpayer had not proven that the investment fund’s operations constituted a business, trade, occupation or profession, citing New York’s rule that merely owning or… [read post]
12 Jul 2021, 3:53 am by Peter Mahler
Does Leonard’s partial performance of the alleged oral partnership agreement get around the statute of frauds governing conveyances of realty? [read post]
8 Oct 2014, 5:53 am by Cari Rincker
If there is a salaried partner who does not share in losses, this should be specifically addressed in this section. [read post]
2 Nov 2020, 4:41 am by Franklin C. McRoberts
The Partnership Agreement does not provide an exhaustive list of events which constitute a general partner withdrawal or otherwise explicitly opt-out of Section 121-402 (e) . . . [read post]
12 Oct 2022, 12:15 am
  However, this does not establish the fact that the parties did not intend to create a partnership between themselves or as to a third person. [read post]
26 Apr 2018, 2:36 pm by Michael Farinacci, Stephen P. Younger
  Section 62(1)(b) provides that a partner may unilaterally dissolve a partnership, without violating the partnership agreement, if the agreement does not state a “definite term or particular undertaking. [read post]
22 Jul 2017, 5:00 pm by Charles (Chuck) Rubin
The Internal Revenue Code does not directly answer this question - the answer lies at the intersection of several provisions and principles:a. [read post]
14 Nov 2022, 4:56 am by Franklin C. McRoberts
Bakr moved by order to show cause for dissolution under Partnership Law § 62 (1) (b), which provides that dissolution of a general partnership occurs without breach of the partnership agreement “[b]y the express will of any partner when no definite term or particular undertaking is specified. [read post]
1 Mar 2007, 8:00 pm
In a limited partnership with more than one limited partner, all partners are assumed to have full external authority, provided that (i) such authority does not extent to acts that transgress the object of the partnership, and (ii) such external authority may be limited by the partnership agreement, provided such limitation was recorded with the commercial register. [read post]