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534 PARTNERSHIP. [ART. LXXIIIA
PART II.
Nature of a Partnership.
1916, ch. 175, sec. 6.
6. (PARTNERSHIP DEFINED.) (1) A partnership is an association
of two or more persons to carry on as co-owners a business for profit.
(2) But any association formed under any other statute of this
State, or any statute adopted by authority, other than the authority of
this State, is not a partnership under this article, unless such associ-
ation would have been a partnership in this State prior to the adoption
of this article; but this article shall apply to limited partnerships
except in so far as the statutes relating to such partnerships are incon-
sistent herewith.
1916, ch. 175, sec. 7.
7. (RULES FOR DETERMINING THE EXISTENCE OF A PARTNERSHIP.)
In determining whether a partnership exists, these rules shall apply:
(1) Except as provided by section 16 persons who are not partners
as to each other are not partners as to third persons.
(2) Joint tenancy, tenancy in common, tenancy by the entireties,
joint property, common property, or part ownership does not of itself
establish a partnership, whether such co-owners do or do not share any
profits made by the use of the property.
(3) The sharing of gross returns does not of itself establish a part-
nership, whether or not the persons sharing them have a joint or com-
mon right or interest in any property from which the returns are
derived.
(4) The receipt by a person of a share of the profits of a business is
prima facie evidence that he is a partner in the business, but no such
inference shall be drawn if such profits were received in payment:
(a) As a debt by installments or otherwise,
(b) As wages of an employee or rent to a landlord,
(c) As an annuity to a widow or representative of a deceased part-
ner,
(d) As interest on a loan, though the amount of payment vary with
the profits of the business,
(e) As the consideration for the sale of the good-will of a business
or other property by installments or otherwise.
1916, ch. 175, sec. 8.
8. (PARTNERSHIP PROPERTY.) (1) All property originally brought
into the partnership stock or subsequently acquired, by purchase or
otherwise, on account of the partnership is partnership property.
(2) Unless the contrary intention appears, property acquired with
partnership funds is partnership property.
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