What type of partnership involves a specific contribution for profits, rather than all present property?

Prepare for the Partnership Law Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

A particular partnership is characterized by its focus on specific contributions made by partners for designated purposes or projects, rather than encompassing all property and assets owned by the partners. This type of partnership is often formed for a specific enterprise and can involve particular investments or resources to achieve defined goals, such as providing services or engaging in a unique business venture.

In contrast, a universal partnership involves all partnership properties and contributions from all partners without limitations to specific projects. A general partnership includes a broader obligation where partners share in the management and profits derived from all business activities. A joint venture is similar to a particular partnership but is typically one-off or temporary, often limited to a specific project or goal and may involve partners from different entities collaborating.

In short, the particular partnership is defined by the nature of contributions made, which is key to its function and operation within partnership law.

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