17. Salaried partners and employees.

A contract for the remuneration of a servant or agent of a person engaged in a business by a share of the profits of the business does not of itself make the servant or agent a partner in the business or liable as such1. A person cannot be both a partner in, and an employee of, a partnership2. The expression 'salaried partner' is not a term of art, but is generally used to mean a person who receives a fixed remuneration irrespective of profits and who is in fact an employee but is held out to the world to