meaning of articles of partnership

articles of partnership meaning in Law Dictionary

written arrangement by which the parties enter a copartnership upon the conditions and terms therein stipulated.

articles of partnership meaning in Business Dictionary

The internal 'rule guide' of a finite cooperation firm; similar to the articles of relationship of an incorporated firm. A small cooperation comprises of general lovers whom handle the company and therefore are jointly-and-severally accountable for the firm's debts, and limited lovers that prone to the degree of their capital contribution. Restricted partners cannot take part in the handling of the firm and lose their limited-liability condition if do. See also contract of relationship.