How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110428
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

In a business partnership, If one partner accrues all ...

This answer was rated:

In a business partnership, If one partner accrues all net business losses. Can they expect to be reimbursed if the property is sold? Or is the profit from the sale split 50/50?
It is governed by the partnership agreement. In the absence of the partnership agreement, all losses and profits are split 50/50, or whatever the percentage is based upon the number of partners.

If you found my answer helpful, please click on the GREEN ACCEPT button. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!
Law Educator, Esq. and 4 other Business Law Specialists are ready to help you

Related Business Law Questions