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unlimited partnership

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  • partnership — part·ner·ship n: an association of two or more persons or entities that conduct a business for profit as co owners see also uniform partnership act in the important laws section compare corporation, joint venture, sole pro …   Law dictionary

  • Partnership — For the cricket term, see Partnership (cricket). A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.[1] Since humans are social beings, partnerships between individuals, businesses, interest based… …   Wikipedia

  • Partnership (China) — A partnership in the People s Republic of China is a business entity governed by the [http://www.fdi.gov.cn/pub/FDI EN/Laws/GeneralLawsandRegulations/BasicLaws/P020061018643910006967.pdf Partnership Enterprise Law] passed by order of the… …   Wikipedia

  • Unlimited company — In the United Kingdom, an unlimited company is a company formed by registration under the Companies Act 1985 where the liability of the members is unlimited that is, they are liable to contribute whatever sums are required to pay the debts of the …   Wikipedia

  • partnership — /pahrt neuhr ship /, n. 1. the state or condition of being a partner; participation; association; joint interest. 2. Law. a. the relation subsisting between partners. b. the contract creating this relation. c. an association of persons joined as… …   Universalium

  • unlimited liability — Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability. Bloomberg Financial Dictionary When a promoter is fully liable for the debts of the business, it is called… …   Financial and business terms

  • partnership — An unincorporated business entity in which two or more individuals (known as partners) agree to share the *risks and *rewards of an activity. Unlike a *corporation, a partnership does not have a separate legal personality partners essentially act …   Auditor's dictionary

  • Unlimited liability — Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability. The New York Times Financial Glossary * * * unlimited liability unlimited liability ➔ liability * * *    Where no …   Financial and business terms

  • partnership association — A business organization exclusively a creature of statute; a type of artificial person standing halfway between a limited partnership and a corporation. 40 Am J1st Partn § 518. An association in the form of a kind of partnership but departing… …   Ballentine's law dictionary

  • unlimited liability — A liability to pay all the debts incurred by a business. For a sole proprietor or general partner (see partnership), liability is not limited to the amount he or she has agreed to invest. All debts of the business must not only be paid out of the …   Big dictionary of business and management

  • Limited partnership — A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners (GPs), there are one or more limited partners (LPs).The GPs are, in all major respects, in the same legal… …   Wikipedia