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No partnership clause: Difference between revisions
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{{a|boilerplate| | {{a|boilerplate|}}Standard fare on dreary commercial contracts, the “no partnership” covenant is designed to stop merchants inadvertently stumbling into relationships with which they have [[joint and several liability]] for not only their own acts and omissions, but those of their counterparty. | ||
In the classic [[partnership]], each party is liable, in full, for any losses incurred or brought about by any of the other partners when acting on behalf of the enterprise. The moral of the story is “don’t go into partnership with bankrupts, morons or psychopaths” — this isn’t bad life advice generally, come to think of it — and so sticking it in a commercial contract which on its face does no such thing does no real harm beyond offending the sensibilities of those with a passion for elegant minimalism in their contracts. Such as yours truly. | In the classic [[partnership]], each party is liable, in full, for any losses incurred or brought about by any of the other partners when acting on behalf of the enterprise. The moral of the story is “don’t go into partnership with bankrupts, morons or psychopaths” — this isn’t bad life advice generally, come to think of it — and so sticking it in a commercial contract which on its face does no such thing does no real harm beyond offending the sensibilities of those with a passion for elegant minimalism in their contracts. Such as yours truly. | ||