Section 358.070 Rules for determining the existence of a partnership.

MO Rev Stat § 358.070 (2019) (N/A)

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Effective 28 Aug 1949

358.070. Rules for determining the existence of a partnership. — In determining whether a partnership exists, these rules shall apply:

(1) Except as provided by section 358.160 persons who are not partners as to each other are not partners as to third persons;

(2) Joint tenancy, tenancy in common, tenancy by the entireties, joint property, common property, or part ownership does not of itself establish a partnership, whether such co-owners do or do not share any profits made by the use of the property;

(3) The sharing of gross returns does not of itself establish a partnership, whether or not the persons sharing them have a joint or common right or interest in any property from which the returns are derived;

(4) The receipt by a person of a share of the profits of a business is prima facie evidence that he is a partner in the business, but no such inference shall be drawn if such profits were received in payment:

(a) As a debt by installments or otherwise;

(b) As wages of an employee or rent to a landlord;

(d) As interest on a loan, though the amount of payment vary with the profits of the business;

(e) As the consideration for the sale of a goodwill of a business or other property by installments or otherwise.

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(L. 1949 p. 506 § 7)

CROSS REFERENCE:

Evidence of partnership, what constitutes, 490.520

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