Legal Question in Business Law in Illinois
I currently work for my father. To make me a legal partner does money have to exchange hands in Illinois?
Asked on 3/23/11, 4:35 pm
1 Answer from Attorneys
No unless that is the deal or offer. Partners can bring in additional partners, or people who are not currently partners can agree to become partners, solely on the promise of the partnership on the one hand to share profits (and losses) in exchange for the promise of the new partners to perform partnership related responsibilities....
Answered on 3/25/11, 11:23 am
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