SOCIETAS

SOCIETAS

societas (s[schwa]-sI-[schwa]-tas), n. [Latin] Roman law. A partnership between two or more people agreeing to share profits and losses; a partnership contract.

¡°Societas in its widest acceptation denotes two or more persons who unite or combine for the prosecution of a common object; in its more restricted sense it denotes a mercantile partnership …, the individual members being termed Socii.¡± William Ramsay, A Manual of Roman Antiquities 316 (Rodolfo Lanciani ed., 15th ed. 1894).


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