\documentclass[10pt,a4paper]{article}

% Packages
\usepackage{fancyhdr}           % For header and footer
\usepackage{multicol}           % Allows multicols in tables
\usepackage{tabularx}           % Intelligent column widths
\usepackage{tabulary}           % Used in header and footer
\usepackage{hhline}             % Border under tables
\usepackage{graphicx}           % For images
\usepackage{xcolor}             % For hex colours
%\usepackage[utf8x]{inputenc}    % For unicode character support
\usepackage[T1]{fontenc}        % Without this we get weird character replacements
\usepackage{colortbl}           % For coloured tables
\usepackage{setspace}           % For line height
\usepackage{lastpage}           % Needed for total page number
\usepackage{seqsplit}           % Splits long words.
%\usepackage{opensans}          % Can't make this work so far. Shame. Would be lovely.
\usepackage[normalem]{ulem}     % For underlining links
% Most of the following are not required for the majority
% of cheat sheets but are needed for some symbol support.
\usepackage{amsmath}            % Symbols
\usepackage{MnSymbol}           % Symbols
\usepackage{wasysym}            % Symbols
%\usepackage[english,german,french,spanish,italian]{babel}              % Languages

% Document Info
\author{parkeraz}
\pdfinfo{
  /Title (partnerships.pdf)
  /Creator (Cheatography)
  /Author (parkeraz)
  /Subject (Partnerships Cheat Sheet)
}

% Lengths and widths
\addtolength{\textwidth}{6cm}
\addtolength{\textheight}{-1cm}
\addtolength{\hoffset}{-3cm}
\addtolength{\voffset}{-2cm}
\setlength{\tabcolsep}{0.2cm} % Space between columns
\setlength{\headsep}{-12pt} % Reduce space between header and content
\setlength{\headheight}{85pt} % If less, LaTeX automatically increases it
\renewcommand{\footrulewidth}{0pt} % Remove footer line
\renewcommand{\headrulewidth}{0pt} % Remove header line
\renewcommand{\seqinsert}{\ifmmode\allowbreak\else\-\fi} % Hyphens in seqsplit
% This two commands together give roughly
% the right line height in the tables
\renewcommand{\arraystretch}{1.3}
\onehalfspacing

% Commands
\newcommand{\SetRowColor}[1]{\noalign{\gdef\RowColorName{#1}}\rowcolor{\RowColorName}} % Shortcut for row colour
\newcommand{\mymulticolumn}[3]{\multicolumn{#1}{>{\columncolor{\RowColorName}}#2}{#3}} % For coloured multi-cols
\newcolumntype{x}[1]{>{\raggedright}p{#1}} % New column types for ragged-right paragraph columns
\newcommand{\tn}{\tabularnewline} % Required as custom column type in use

% Font and Colours
\definecolor{HeadBackground}{HTML}{333333}
\definecolor{FootBackground}{HTML}{666666}
\definecolor{TextColor}{HTML}{333333}
\definecolor{DarkBackground}{HTML}{9B55A5}
\definecolor{LightBackground}{HTML}{F8F4F9}
\renewcommand{\familydefault}{\sfdefault}
\color{TextColor}

% Header and Footer
\pagestyle{fancy}
\fancyhead{} % Set header to blank
\fancyfoot{} % Set footer to blank
\fancyhead[L]{
\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{C}
    \SetRowColor{DarkBackground}
    \vspace{-7pt}
    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
    }
\end{tabulary}
\columnbreak
\begin{tabulary}{11cm}{L}
    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Partnerships Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{parkeraz} via \textcolor{DarkBackground}{\uline{cheatography.com/32519/cs/20100/}}}
\end{tabulary}
\end{multicols}}

\fancyfoot[L]{ \footnotesize
\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{LL}
  \SetRowColor{FootBackground}
  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}parkeraz \\
  \uline{cheatography.com/parkeraz} \\
  \end{tabulary}
\vfill
\columnbreak
\begin{tabulary}{5.8cm}{L}
  \SetRowColor{FootBackground}
  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 22nd July, 2019.\\
   Updated 26th July, 2019.\\
   Page {\thepage} of \pageref{LastPage}.
\end{tabulary}
\vfill
\columnbreak
\begin{tabulary}{5.8cm}{L}
  \SetRowColor{FootBackground}
  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Sponsor}}  \\
  \SetRowColor{white}
  \vspace{-5pt}
  %\includegraphics[width=48px,height=48px]{dave.jpeg}
  Measure your website readability!\\
  www.readability-score.com
\end{tabulary}
\end{multicols}}




\begin{document}
\raggedright
\raggedcolumns

% Set font size to small. Switch to any value
% from this page to resize cheat sheet text:
% www.emerson.emory.edu/services/latex/latex_169.html
\footnotesize % Small font.

\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{x{1.34379 cm} x{3.63321 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Forming a Partnership}}  \tn
% Row 0
\SetRowColor{LightBackground}
Defintion & An association of two or more legal persons who carry on a for profit business as co-owners. \tn 
% Row Count 4 (+ 4)
% Row 1
\SetRowColor{white}
Person & Anyone or anything that has a legal capacity to contract \tn 
% Row Count 6 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Intent & Only need to intend to carry on as co-owners for profit \tn 
% Row Count 8 (+ 2)
% Row 3
\SetRowColor{white}
\seqsplit{Co-ownership} & Presumption that people who share profits are partners \tn 
% Row Count 10 (+ 2)
% Row 4
\SetRowColor{LightBackground}
Sharing control & One person cannot have all of the control \tn 
% Row Count 12 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.69218 cm} x{3.28482 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Consequences of Forming a Partnership}}  \tn
% Row 0
\SetRowColor{LightBackground}
Separate Legal Entity & partnership is distinct from each of the partners \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
Partnership Liability & Partners are personally liable for the partnerships obligations \tn 
% Row Count 5 (+ 3)
% Row 2
\SetRowColor{LightBackground}
Entity-level taxation & Does not exist in a partnership \tn 
% Row Count 7 (+ 2)
% Row 3
\SetRowColor{white}
Partnership agreement & Law of partnership; does not need to be written, provision in a partnership agreement will typically govern over state law \tn 
% Row Count 12 (+ 5)
% Row 4
\SetRowColor{LightBackground}
Mandatory State Laws & Liability to third parties; cannot deny partners access to the books or records, cannot eliminate fiduciary duties \tn 
% Row Count 17 (+ 5)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.09034 cm} x{2.88666 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Internal Affairs}}  \tn
% Row 0
\SetRowColor{LightBackground}
Fiduciary Duties & Every partner owes duty of loyalty and care \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
Duty of Loyalty & Partners must not compete with partnership business, advance an interest adverse to partnership, usurp a partnership opportunity, etc \tn 
% Row Count 8 (+ 6)
% Row 2
\SetRowColor{LightBackground}
Limitation on Duty of Loyalty & cannot eliminate but can limit as long as not manifestly unreasonable \tn 
% Row Count 11 (+ 3)
% Row 3
\SetRowColor{white}
Safe Harbor & If a partner makes full disclosure of all material facts, then a certain percentage of the other partners may authorize or ratify the transaction \tn 
% Row Count 18 (+ 7)
% Row 4
\SetRowColor{LightBackground}
Duty of Care & Partnersmust not engage in grossly negligent or reckless conduct, engage in intentional misconduct, engage in a knowing violation of the law \tn 
% Row Count 25 (+ 7)
% Row 5
\SetRowColor{white}
Timing of Duties & Duty of loyalty and care apply only to partners, not prospective partners or former partners \tn 
% Row Count 29 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.23965 cm} x{2.73735 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Profits and Losses}}  \tn
% Row 0
\SetRowColor{LightBackground}
Division & Dictated by the agreement. Losses and profits need not be the same. If no agreement, profits divided evenly and losses follow profits \tn 
% Row Count 7 (+ 7)
% Row 1
\SetRowColor{white}
Distribution & Default- patterns do not have the right to demand distributions. Can allow in partnership agreement \tn 
% Row Count 12 (+ 5)
% Row 2
\SetRowColor{LightBackground}
Transfer of Partnership Interests & Default- partner sold not have a right to transfer interest. Partners may agree to require a majority vote. In past, conveying interest would dissolve partnership \tn 
% Row Count 20 (+ 8)
% Row 3
\SetRowColor{white}
New Partner & Default- All existing partners must consent to the new partner \tn 
% Row Count 23 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.89126 cm} x{3.08574 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Managing/ Governing Relationships}}  \tn
% Row 0
\SetRowColor{LightBackground}
Default Rule & Every partner has an equal rights in management and control of the partnership. Can be changed by agreement (often to reflect capital contribution) \tn 
% Row Count 7 (+ 7)
% Row 1
\SetRowColor{white}
Ordinary Business Matters & Requires vote of the majority of partners \tn 
% Row Count 9 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Extraordinary Business & Requires vote of all the partners \tn 
% Row Count 11 (+ 2)
% Row 3
\SetRowColor{white}
Quorums & No default rule regarding parternship quorums for partnership voting \tn 
% Row Count 14 (+ 3)
% Row 4
\SetRowColor{LightBackground}
Access to the Records & Partners and agents must be provided access to the records; CANNOT be abridged by partnership agreement \tn 
% Row Count 19 (+ 5)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.69218 cm} x{3.28482 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Dissociation}}  \tn
% Row 0
\SetRowColor{LightBackground}
Dissociation & when a partner ceases to be associated with the partnership \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
Voluntary & Partner may give notice to the partnership that the partner wants to withdraw \tn 
% Row Count 6 (+ 3)
% Row 2
\SetRowColor{LightBackground}
Involuntary & Event triggered in the partnership agreement; expelled pursuant to partnership agreement; unlawful to carry on business with that partner; court order; partner goes bankrupt; partner dies; partner becomes incapacitated; one of the entities in the partnership dissolves \tn 
% Row Count 17 (+ 11)
% Row 3
\SetRowColor{white}
Consequences & Partnership does not necessarily dissolve; former partner has no right to participate in management and no longer has duties; if partnership continues must buy out the dissociated partner's interest \tn 
% Row Count 25 (+ 8)
% Row 4
\SetRowColor{LightBackground}
Wrongful Dissociation & the wrongfully dissociated partner may not be entitled to payment of the buyout price until the expiration of the term or completion of the undertaking of the partnership. Because the partner will also be liable for damages caused by the wrongful dissociation, if the partner's liability meets or exceeds the buyout value, the partner may not be entitled to receive any buyout price. \tn 
% Row Count 40 (+ 15)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.38896 cm} x{2.58804 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Liabilities of Partnership}}  \tn
% Row 0
\SetRowColor{LightBackground}
Agency & Every partner is an agent of the partnership \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
Contract Liability & Partners need authority \tn 
% Row Count 5 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Express Authority & comes from the partnership agreement, statement of authority filing, or ad hoc authorization by the partners at a meeting \tn 
% Row Count 12 (+ 7)
% Row 3
\SetRowColor{white}
Implied Authority & Exists based on partner's reasonable belief that an action is necessary to carry out express authority \tn 
% Row Count 18 (+ 6)
% Row 4
\SetRowColor{LightBackground}
Apparent Authority & Partnership may be bound based on the partner acting in the ordinary course of dealings; based on interactions between partnership and third-parties \tn 
% Row Count 26 (+ 8)
% Row 5
\SetRowColor{white}
Tort Liability & A partnership is liable for torts that are committed by partners acting within the scope of their partnership \tn 
% Row Count 32 (+ 6)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{x{2.38896 cm} x{2.58804 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Liabilities of Partnership (cont)}}  \tn
% Row 6
\SetRowColor{LightBackground}
Consequences of the Flow of Liability & Partners are personally liable for the debts or obligations of the partnership; joint and several liability; partnership creditor must exhaust the partnership's funds before going after the partners' personal assets; incoming partner not liable for prior obligations; outgoing partner may be liable for obligation that occurred after dissociation \tn 
% Row Count 18 (+ 18)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.38896 cm} x{2.58804 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Terminating a Partnership}}  \tn
% Row 0
\SetRowColor{LightBackground}
Dissolution & Can be brought around by partnership or operation of law; triggered by the occurrence of an event \tn 
% Row Count 5 (+ 5)
% Row 1
\SetRowColor{white}
Partnership at Will & Open ended partnership with no fixed term tied to time period or undertaking; generally, dissolved when a partner chooses to dissociate \tn 
% Row Count 12 (+ 7)
% Row 2
\SetRowColor{LightBackground}
Partnership for a Term of Undertaking & Partnership may be dissolved when the term ends or when the undertaking is completed \tn 
% Row Count 17 (+ 5)
% Row 3
\SetRowColor{white}
Three ways to dissolve partnership & Any dissolving event set forth in partnership agreement; any event making it unlawful to continue if not cured within 90 days; judicial determination \tn 
% Row Count 25 (+ 8)
% Row 4
\SetRowColor{LightBackground}
Winding Up & dispose of and transfer partnership property, and discharge partnership liabilities; person can also preserve partnership business to maximize value as a going concern \tn 
% Row Count 34 (+ 9)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{x{2.38896 cm} x{2.58804 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Terminating a Partnership (cont)}}  \tn
% Row 5
\SetRowColor{LightBackground}
Who may wind up & Any partner who has not wrongfully dissociated, legal representative of the last surviving partner. May seek judicial supervision of winding up \tn 
% Row Count 8 (+ 8)
% Row 6
\SetRowColor{white}
Statement of Dissolution & Filing that gives notice to third parties that the partnership has been dissolved after 90 days. Limits the partners apparent authority and liability \tn 
% Row Count 16 (+ 8)
% Row 7
\SetRowColor{LightBackground}
Priority of Distribution & Creditors first and then partners \tn 
% Row Count 18 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.74195 cm} x{3.23505 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Limited Liability Partnerships}}  \tn
% Row 0
\SetRowColor{LightBackground}
Definition & Partnership in which a partner's personal liability is eliminated; must file with the state \tn 
% Row Count 4 (+ 4)
% Row 1
\SetRowColor{white}
Formation & To transforma a general partnership into an LLP, you must vote to authorize transformation \tn 
% Row Count 8 (+ 4)
% Row 2
\SetRowColor{LightBackground}
Name & Must end with either: Registered Limited Liability Partnership (RLLP) or Limited Liability Partnership (LLP) \tn 
% Row Count 13 (+ 5)
% Row 3
\SetRowColor{white}
Liabilities & Limited partners are not personally liable; limited partners are personally responsible for their own personal misconduct or negligence \tn 
% Row Count 19 (+ 6)
% Row 4
\SetRowColor{LightBackground}
Terminating LLP Status & Partners can voluntarily transform and cancel LLP status; government can revoke LLP status \tn 
% Row Count 23 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{2.4885 cm} x{2.4885 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Limited Partnerships}}  \tn
% Row 0
\SetRowColor{LightBackground}
Definition & A partnership formed by two or more persons that has at least one general partner and one limited partner \tn 
% Row Count 6 (+ 6)
% Row 1
\SetRowColor{white}
Limited partners & Have limited liability (unless serves as general partner or participates in partnership); may be admitted by agreement of all partners; default- don't vote; right to records \tn 
% Row Count 15 (+ 9)
% Row 2
\SetRowColor{LightBackground}
Things a limited partner can do without running business & Be an officer, director, or shareholder; consult general partner or partnership affairs; act as surety of the partnership request to attend meetings; wind up the partnership; propose or approve of partnership matters \tn 
% Row Count 26 (+ 11)
% Row 3
\SetRowColor{white}
General Partners & Have personal liability; admitted upon consent of all partners; same rights as general partnership \tn 
% Row Count 31 (+ 5)
\end{tabularx}
\par\addvspace{1.3em}

\vfill
\columnbreak
\begin{tabularx}{5.377cm}{x{2.4885 cm} x{2.4885 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Limited Partnerships (cont)}}  \tn
% Row 4
\SetRowColor{LightBackground}
Termination of general partner status & voluntarily withdrawal; removal if tries to assign interest; goes bankrupt or becomes insolvent; death or incapacitation; business-entity partner is terminated \tn 
% Row Count 8 (+ 8)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}