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
Part A A director has a duty to exercise care, skill and diligence at common law and also a statutory duty of care and diligence under s180 (1) Corporations Act 2001 (Cth) in c

EXCEPTIONS: A valid meeting may be constituted by the presence of one person in the following cases: (i)  If the meeting is an annual general meeting which was called by, o

C.I.F. Contacts - Import and Export Trade Therefore a c.i.f. like cost, insurance else freight whether contract is a contract for the sale of goods for be performed through the

QUESTION 1 (a) What are the essential elements for a valid contract as stipulated by article 1108 of the Civil Code (CCM)? (b) How can consent be vitiated in relation to con

Standard of proof in civil cases: Therefore the standard of proof in civil cases is on a preponderance of probabilities or on a balance of probabilities.  So it must be more p

online Law test, Due tomorrow December 14th, 20 multiple choice questions and 4 essay questions. Topics, Obscenity, child porn; broadcasting indecency, citizens united, ipr & cop

Explain Non Proliferation Treaty The treaty which regulates and limits the use of nuclear weapons is known as Non Proliferation Treaty (NPT), signed in 1968. The NPT lays down

Q. Increasing the risk rating of building and construction? Stakeholders indicated that there is a significant risk of phoenix activity in the building and construction industr

Acceptance - Negotiable Instruments Meaning The word "acceptance" such used in relation to bills of exchange like has a special meaning also. Acceptance of a bill of ex

REGULATIONS REGARDING FIRE : Fire accidents in educational institutions are much less as compared to those in residential, commercial or industrial areas. This is a general observ