BLAW 308 Lecture Notes - Lecture 4: Charging Order
Document Summary
Partnership not formed bc of joint ownership, or sharing of. Person consents to being represented as a partner; like not correcting someone. Property does belong to a partnership if it is transferred to the partner"s name or to a partner and list them as a partner. Using partnership funds = its property of the partnership. Transferrable partnership interest is the right to reap the distributions. ^if someone doesn"t pay that, they do a charging order that is due to the hypothecating partner. Charging order is given to a partnership, says i have a partnership interest from. Partner a and i wasn"t paid, so now you need to pay me those distributions. Do not have the right to inspect the books. Partners can dissolve the partnership and the one with partner interest gets the assets. Partnership at will: can do business as long as you want, not like a set term.
