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SYNDICATE , a See also:term originally meaning a See also:body of syndics . In this sense it is still sometimes used, as at the university of See also:Cambridge, for the body of members or See also:committee responsible for the management of the University See also:Press . In See also:commerce, a syndicate is a body of persons who combine to carry through some See also:financial transaction, or who undertake a See also:common See also:adventure . Syndicates are very often formed to acquire or take over some undertaking, held it for a See also:short See also:time, and then resell it to a See also:company . The profits are then distributed and the syndicate dissolves . Sometimes syndicates are formed under agreements which constitute them See also:mere partnerships, the members being therefore individually responsible, but they are now more generally incorporated under the Companies Acts . The more usual eases in which syndicates are commonly formed will be found in F . B . See also:Palmer's Company Precedents, loth ed., vol. i. pp . 129 seq . |
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