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Rights of a Partner<br />
� UPA §24: The property rights of a partner are<br />
� (1) his rights in specific partnership property,<br />
� (2) his interest in the partnership, and<br />
� (3) his right to participate in the management.<br />
� UPA §26: A partner’s interest in the partnership is his<br />
share of the profits and surplus…<br />
� Earlier, we said that the defining characteristics of a<br />
partnership were:<br />
� Shared profits [“interest in the partnership”];<br />
� Shared control [“right to participate in the managements”]<br />
� What is the third right [“rights in specific partnership<br />
property”]?<br />
(c) 2004 80
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