P

Latin. The stipulations furnish the law for the contract. The intention of the parties to a contract, and the agreement into which they have entered, is the rule upon which the law will proceed in enforcing fulfillment of the obligations undertaken, even where such agreement is contrary to the general rule of law regarding such contracts. Thus, in the contract of partnership, the rule upon which the law proceeds in regulating the rights and obligations of the partners is, that each partner is entitled to an equal share of the profits, and is liable for an equal proportion of the losses. But if ...