OFFICE OF LAURA
HUGHES, COUNTY CLERK,
KAUFMAN COUNTY, TEXAS
Types of Business
usually unincorporated, and owned and controlled exclusively by one
person. Such a business is commonly designated a “sole proprietorship.”
who is engaged in the exercise or employment of any art or profession as
contrasted with one who teaches such. (A lawyer who is engaged in the
practice of his profession; a physician who is similarly engaged. Any
person who is practicing a profession.” Ballantine’s Law Dictionary).
voluntary contract between two or more competent persons to place their money,
effects, labor, and skill, or some or all of them, in lawful commerce or
business, with the understanding that there shall be a proportional sharing of
the profits and losses between them.
Real Estate Investment
partnership formed by a group of people pooling their capital for the purpose
of investing in real estate. Ballantine’s Law Dictionary)
Joint Stock Company
unincorporated business enterprise with ownership interests represented by
shares of stock. It was recognized at common law and by statue is
generally treated as an entity for certain purposes.
legal entity in the nature of a partnership engaged in the joint prosecution of
a particular transaction for mutual profit. An association of persons
jointly undertaking some commercial enterprise. It requires a community
of interest in the performance of the subject matter, a right to direct and
govern the policy in connection therewith, and duty, which may be altered by
agreement, to share both in profit and losses.
definitions by Black’s Law Dictionary unless otherwise noted. Kaufman County accepts no responsibility, and
this is not meant to replace the advice of an attorney.
This helpful document is not meant to replace the
advice of an attorney.
Kaufman County accepts
no responsibility for errors or omissions.