Partnership (SNC)
A commercial entity of which all members (in name) are traders and are jointly and severally bound by company debts. Management is, notwithstanding any clause to the contrary, undertaken by all members. Due to the personal nature of the Partnership and notwithstanding any statutory clause, the death of a member shall lead to the company being wound up (however, withdrawal or transfer of shares shall not lead to the same consequences: notwithstanding any clause to the contrary, these decisions are authorised by members unanimously).
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