Common Contracts
1 similar Rights, Duties And contracts
THE RIGHTS, DUTIES AND LIABILITIES OF PARTNERS MUTUAL RELATIONSHIP BETWEEN PARTNERSRights, Duties And • August 29th, 2020
Each partner has a right to share in the profits of the partnership. Unless the partnership agreement states otherwise, partners share profits equally. Moreover, partners must contribute equally to partnership losses unless a partnership agreement provides for another arrangement. In some jurisdictions a partner is entitled to the return of her or his capital contributions. In jurisdictions that have adopted the RUPA, however, the partner is not entitled to such a return.
