A partnership is formed in order to make profits, which constitute the shared profits to be distributed to the partners, based on their respective share (Cimon v. Arès, supra, at para. 66). It is an element that is essential to the partnership's existence. An ancillary profit-making purpose is sufficient, however (Backman, supra, para. 23).
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.