Peekee wrote:
>What are the rules that specify that obligations of a Partnership must
>be devolved to ALL of its members/parties?
That's not required. The requirement is that the obligations be devolved
onto at least two parties, who are then known as the members.
>Rule 2145/1 (Power=1)
Out of date. P5061 amended it to
Rule 2145/2 (Power=2)
Partnerships
A binding agreement governed by the rules which devolves its
legal obligations onto a subset of its parties, numbering at
least two, collectively, is a partnership. The members of a
partnership are those parties onto whom the partnership's legal
obligations are collectively devolved. A partnership's identity
and partnershiphood are not disrupted by changes to its
membership provided that it continues to meet the definition of
a partnership.
A partnership's basis is the set consisting of the union of the
set of its non-partnership members with the bases of each of its
partnership members. Where circularity occurs in this
definition, it is resolved by using the minimum basis sets that
provide consistency.
A partnership whose basis contains at least two persons is a
person.
-zefram
