A decision of the California Supreme Court has defined a partnership in the following
terms ? ?A partnership as between partners themselves may be defined to be a contract of two or more
persons to unite their property, labor or skill, or some of them, in prosecution of some joint or lawful
business, and to share the profits in certain proportions.? A voluntary association of two or more persons to
carry on a business or venture on terms of mutual participation in profits and losses.
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