Explanation:
Reference: Tom West's Dictionary - Page 214
Also, Black's Law Dictionary (Deluxe Eighth Edition) gives the following general definition of 'partnership':
A voluntary association of two or more persons who jointly own and carry on as a business for profit.
This same dictionary carries all the different types of 'partnerships', each with their respective definitions.
Hope this helps.
Almost 18 years experience of translating for Mexico City based member firms of international public accounting firms, banks, brokerage firms, Instituto Mexicano de Contadores Pubicos, anti-money laundering projects for the US Embassy in Mexico City, Bogota, Colombia, and the US Treasury Dept.
ESL/EFL Teacher certified by the CELE-UNAM (Centro de Lenguas Extranjeras - Universidad Nacional Autónoma de México)
Reference: http://aicpa.org
Reference: http://imcp.org.mx
Apr 9, 2003 - de capital variable); b) sociedad de responsabilidad limitada; c) sociedad en nombre colectivo; d) sociedad en comandita; e) sociedad en.