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UNIVERSAL PARTNERSHIP

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

The name of a specie’s of partnership by which all the partners agree to put in common all their property, universorum bonorum, not only what they then have, but also what they shall acquire. 2. In Louisiana, universal partnerships are allowed, but properly which may accrue to one of the parties, after entering into the partnership, by donation, succession, or legacy, does not become common stock, and any stipulation to that effect, previous to the obtaining the property aforesaid, is void.

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