- insolvent partnership
- See insolvency of partnership.
Ballentine's law dictionary. Anderson, W.S.. 1998.
insolvent partnership
Look at other dictionaries:
insolvent — (1) The inability to pay ones debts as they come due. (2) When one s liabilities exceed the value of one s assets. An exemption under state or federal law which protects all or a portion of the homestead (SA Bankruptcy.com) Inability of a person… … Glossary of Bankruptcy
Partnership — • An unincorporated association of two or more persons, known as partners, having for its object the carrying on in common by the partners of some predetermined occupation for shared profit Catholic Encyclopedia. Kevin Knight. 2006. Partnership… … Catholic encyclopedia
Partnership (Australia) — In Australia, summarising s. 5 of the Partnership Act 1958 (Vic) (hereinafter the Act ), for a partnership to exist, four main criteria must be satisfied. They are: * Valid Agreement between the parties; * To carry on a business this is defined… … Wikipedia
partnership — /pahrt neuhr ship /, n. 1. the state or condition of being a partner; participation; association; joint interest. 2. Law. a. the relation subsisting between partners. b. the contract creating this relation. c. an association of persons joined as… … Universalium
partnership assets — All assets of a partnership applicable to the payment of the partnership debts, under the well defined principles for the administration of the affairs of insolvent partnerships under the direction of a court of equity. Thayer v Humphrey, 91 Wis… … Ballentine's law dictionary
Articles of Partnership — is a voluntary contract between two or among more than two persons to place their capital, labor, and skills, and corporation in business with the understanding that there will be a sharing of the profits and losses between/among partners.… … Wikipedia
United Kingdom company law — Beside the River Thames, the City of London is a global financial centre. Within the Square Mile, the London Stock Exchange lies at the heart of the United Kingdom s corporations. United Kingdom company law is the body of rules that concern… … Wikipedia
Forms of ownership — A form of ownership is the manner in which * an undertaking or enterprise is managed and controlled; * capital is contributed; * risks are borne; * profits are divided; and * legal personality affects the business.ole… … Wikipedia
Corporate veil in the United Kingdom — The corporate veil in the United Kingdom is a metaphorical reference used in UK company law for the concept that the rights and duties of a corporation are, as a general principle, the responsibility of that company alone. Just as a natural… … Wikipedia
Resolution Trust Corporation — The Resolution Trust Corporation (RTC) was a United States Government owned asset management company charged with liquidating assets (primarily real estate related assets, including mortgage loans) that had been assets of savings and loan… … Wikipedia
