53-402. EXPRESS AGREEMENT NOT NECESSARY. An express agreement to become partners or to share the profits and losses of mining is not necessary to the formation or existence of a mining partnership. The relation arises from the ownership of shares or interest in the mine and working the same for the purpose of extracting the minerals therefrom.
History:
[(53-402) R.S., sec. 3301; reen. R.C. & C.L., sec. 3362; C.S., sec. 5857; I.C.A., sec. 52-402.]
Structure Idaho Code
Chapter 4 - MINING PARTNERSHIP
Section 53-401 - WHEN MINING PARTNERSHIP EXISTS.
Section 53-402 - EXPRESS AGREEMENT NOT NECESSARY.
Section 53-403 - SHARING PROFITS AND LOSSES.
Section 53-404 - LIEN OF PARTNERS AND CREDITORS.
Section 53-405 - MINE PARTNERSHIP PROPERTY.
Section 53-406 - SALE OF INTEREST BY PARTNER.
Section 53-407 - LIABILITY OF PURCHASER FOR PARTNERS’ LIENS FOR DEBTS AND ADVANCEMENTS.
Section 53-408 - LIABILITY OF PURCHASER FOR LIENS RESULTING FROM RELATION OF PARTNERS TO EACH OTHER.
Section 53-409 - MEMBERS CANNOT BIND PARTNERSHIP.
Section 53-410 - MAJORITY OF SHARES GOVERNS.