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Chapter 2 - Gwu

Chapter 2 - Gwu

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Partnership Capital<br />

� Initial capital contribution<br />

� UPA silent<br />

� “Service partnership”: one in which one partner<br />

contributes only labor<br />

� Capital Account:<br />

� A running balance reflecting each partner’s<br />

ownership equity<br />

� UPA (1997) § 401(a)<br />

(c) 2004 91

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