| Commentary

76 Introduction

| Commentary

B: JOINT VENTURE AGREEMENTS

1: GENERAL

76 Introduction

The commonest example of a joint venture agreement is a general partnership, but increasing use is made in the farming industry of arrangements, which are loosely referred to as joint ventures but are not intended to create partnerships. Under these arrangements farmers employ third parties to carry out tasks for them, either on a specific task by task basis or generally in respect of their farming operations, with the remuneration of those third parties being, in part at least, an entitlement to a percentage of the profits produced for the farmer’s business. Properly drawn,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial