Societas

In Civil Law. A contract in good faith made to share in common the profit and loss of a certain business or thing, or of all the possessions of the parties. Calvinus, Lex.; Inst 3. 26; Dig. 17. 21. See Partnership. SOC I ETAS LEONINA (Lat.). In Roman Law. That kind of society or partnership by which the entire profits should belong to some of the partners in exclusion of the rest. It was so called In allusion to the fable of the lion and other animals, who having entered into partnership for the purpose of hunting, the lion appropriated all the prey to himself; Dig. 17. 2. 29. 2; Poth. Traits de Soci£t6, n. 12. See Lowry v. Brooks, 2 Mc Cord (S. C.) 421; Bailey ▼. Clark, 6 Pick. (Mass.) 372. SOCI£t£. In French Law. Partnership. SocidU en nom collectif. A partnership in which all the members are jointly and severally liable. Socittd en participation. A joint adventure, Socidfd par actions. A joint stock company. Soci<H6 d’acqudts. A written contract between husband and wife to regard as community property only those things which are acquired during the marriage. Soci6t6 en commandite. In Louisiana, a partnership formed by a contract by which one person or partnership agrees to furnish another person or partnership a certain amount, either in property or money, to be employed by the person or partnership to whom it is furnished, in his or their own name or firm, on condition of receiving a share in the profits, in the proportion determined by the contract, and of being liable to losses and expenses to the amount furnished and no more. La. Civ. Code, art. 2810; Code de Comm. 26, 33; 4 Pardessus, Dr. Com. n. 1027; Dalloz, Diet. Socittd Commercial, n. 1G6. See Goirand, Code; Commendam; Partnership. SOCI £t£ ANONYME. In French law originally a partnership conducted in the name of one of the members; the others were strictly secret partners. To creditors of the firm they came into no relation and under no liability. They made their contribution to the capital, and were held to indemnify the active partner for what he might have to pay in excess of the capital. In the Code Napoleon it came to signify a private business corporation, but never organized in perpetuity. It was formed with the consent of the government. In 1867 the requirement of this consent was replaced under a general Incorporation law; Baldwin, Mod. Pol. Inst 182.

Lat.

In the civil law. Partnership ; a partnership; the contract of partnership. Inst 3, 26. A contract by which the goods or labor of two or more are united in a common stock, for the sake of sharing in the gain. Hallifax, Civil Law, b. 2, c. 18, no. 12.

— Societas leonina. That kind of society or partnership by which the entire profits belong to some of the partners, in exclusion of the rest So called in allusion to the fable of the 1 lion, who, having entered into partnership with other animals for the purpose of hunting, appropriated all the prey to himself. It was void. Wharton -Societas navalis. A naval partnership; an association of vessels; a number of ships pursuing their voyage in company, for purposes of mutual protection.

I. In old English laic. Complicity in crime.

In the civil law. Partnership; a partnership; the contract of partnership.

I. A partnership. Socii mei socius meus socius non est: the partner of my partner is not my partner.