Forming a Partnership
Forming a Partnership
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In our eReader you can find the full English version of the book. Read Forming a Partnership Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Forming a Partnership
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(9 M. A. L. 361. ) In a few States the rule is different and the local statutes and decisions should be consulted in such jurisdictions. A partnership as such does not have a seal as does a corporation.
DEALINGS BETWEEN FIRM AND MEMBERS From a purely commercial standpoint, a contract may be entered into between a firm and one or more of its separate members, naming the firm as such. As a legal proposition this is impossible at common 18 MODERN AMERICAN LAW LECTURE law, but trade usages permit i...t and it is not illegal; it is simply unenforceable at law, although it may be the basis of an equitable suit. Such agreement should describe the partnership by its firm name as one party, and not specify the individual members, as this would lead to a legal absurdity in having the same person both promisor and promisee. A note, for example, given by one partner to his firm should name the firm as payee. A check drawn to one partner should be to that partner by name, even though he himself signs the checks for the fii^m, thus: "First National Bank.
What to read after Forming a Partnership?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus John Moll to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
(9 M. A. L. 361. ) In a few States the rule is different and the local statutes and decisions should be consulted in such jurisdictions. A partnership as such does not have a seal as does a corporation.
DEALINGS BETWEEN FIRM AND MEMBERS From a purely commercial standpoint, a contract may be entered into between a firm and one or more of its separate members, naming the firm as such. As a legal proposition this is impossible at common 18 MODERN AMERICAN LAW LECTURE law, but trade usages permit i...t and it is not illegal; it is simply unenforceable at law, although it may be the basis of an equitable suit. Such agreement should describe the partnership by its firm name as one party, and not specify the individual members, as this would lead to a legal absurdity in having the same person both promisor and promisee. A note, for example, given by one partner to his firm should name the firm as payee. A check drawn to one partner should be to that partner by name, even though he himself signs the checks for the fii^m, thus: "First National Bank.
What to read after Forming a Partnership?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus John Moll to read onlineMoreLess
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