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
Explain the term RECOGNITION RECOGNITION The term Recognition under international law means and involves the acceptance or acknowledgment of the existence by a State of an

General rules on statute-barred debts: A statute-barred debt should be rejected since it is not legally enforceable.  But in a members' voluntary winding up the liquidator may

International Peace and security Pacific settlement of disputes means to resolve disputes to avoid threats to International Peace and security so that such disputes do not beco

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

1. How do mandatory terms limit freedom of contract? 2. How do contract interpretation issues arise? 3. What is the difference between subjective and objective intent?   4

Arbitration However this is a dispute resolution mechanism whereas disputes are settled out of the court through arbitral tribunals or arbitrators that who make arbitral words

QUESTION 1 (a) What are the various alternatives that exist to settle a dispute besides going to court (b) What are their respective advantages and disadvantages QUESTIO

Appeals - Court-Martial In fact in Section 115 of the Armed Forces Act including a person who has been convicted through a court-martial to appeal to the High Court either aga

how do i answer a problem question in law about the law of contract

Both Sudan and the US are signatories to the "New York Convention."  A Sudanese company has won its case in a Sudanese arbitration panel.  The U.S. company has declined to pay this