Awesomenewss

A partnership exists when two or more persons combine their property, labor, and skill, or one or more of them, in the transaction of business, for their common profit. (a) A copartnership is not a corporation, nor a joint-tenancy, nor a co-tenacy. Some of its qualities and characteristics are similar to those of these other modes of joint-interest. But it has its own system of rules and principles of law which must govern all the questions arising under it; and mistakes have arisen from attempting to bring rules from these other modes of joint-interest, to control questions of partnership.

A partnership is presumed to be general when there are no stipulations, or no evidence from the course of business, to the contrary. (b) But it may be created for a specific purpose, or be confined by the parties to a particular line of business, or even a single transaction. When the partnership is formed by written articles, it is considered as beginning at the date of the articles, unless they contain a stipulation to the contrary. (c)

(a) Noyes v. Cushman, 25 Vt. 390. For a discussion of the principles of law-applicable to partnerships between attorneys at law, and the responsibilities growing out of them, and as to the effect of the dissolution of the firm by the death of one of its members, see McGill v. McGill, 2 Met. (Ky.) 258; Denver v. Roane, 99 U. S. 355; Osment v. McElrath, 68 Cal. 466; Williams v. More. 63 Cal. 50; Egleston v. Boardman, 37 Mich. 17; Warner v. Griswold, 8 Wend. 665; Jackson v. Bohrman, 59 Wis. 422.

(b) There is nothing in the law to prevent its being a universal partnership, however rare and difficult such cases must he in fact. See Goesele v. Bimeler, 14 How. 589; Bates, Partnership, § 13. On the other hand a partnership may be limited to one particular subject. Ripley v. Colby, 3 Foster (N. H.), 438.

(c) Williams v. Jones, 5 B. & C 108.

An attorney entered into a written contract, whereby he agreed to take into partnership in his...