Relationship of partners inter se, Business Law and Ethics

Relationship of Partners Inter Se

Whether various terms are in utilize to denote the different specification of partners.  Then the most central of these terms are like:

(a) A General Partner

However one who not only actively participates in such the business although who also can be held liable such the total debts of the firm.  Hence he is a partner in the fullest possible sense of the word there.

(b) A Limited Partner

However one whose liability is limited to the amount of capital such he has invested in the firm.  Since he takes no part in the management of the business whether he does like will lose his as "limited liability" then in respect of that transaction.

(c) An Active Partner

Therefore one who takes an active part in such the affairs of the partnership.

(d) A Sleeping Partner

Moreover one who does not take any active part in the affairs about the firm.  Since he will have capital invested in the business although  remains in the background himself usually.  Whether a partner is also acknowledged as a dormant partner there.

Posted Date: 1/22/2013 6:03:15 AM | Location : United States







Related Discussions:- Relationship of partners inter se, Assignment Help, Ask Question on Relationship of partners inter se, Get Answer, Expert's Help, Relationship of partners inter se Discussions

Write discussion on Relationship of partners inter se
Your posts are moderated
Related Questions
Law of Contract: Mr.Sakr who owns a factory in Baabda for manufacturing furniture, signed a contract in his factory in 12-7-2009 with Mr.Abdo who used to import woods from Bra

Determine the reasons of policy perspective The term system is needed for two reasons: i) It encompasses all sovereign states and therefore possesses the virtue of being com

Implementation of open method of coordination It is emphasised that OMC might contribute to the dissemination of best practice in the implementation of national development po

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Q. Suggested actions for addressing phoenix activity? The following actions are suggested for addressing phoenix activity. Those that have been suggested are the actions that:

What are the advantages of doctrine of judicial precedent? Advantages of doctrine of judicial precedent: a. Makes it more clearly in terms of chances of winning case should

Question 1: Constructive dismissal is inherently different from dismissal in the sense that it is the employee who takes the initiative in considering the contract as having be

Effect of Voluntary Winding Up: The main difference in legal consequences between a compulsory and voluntary winding up are: (a) A voluntary winding up commences on the day

Question : Public Relations units in organizations are generally considered as expense centres, as only the input and expenditures can be measured adequately. Therefore, to sec