PARTNERSHIP AND CORPORATION - GENERAL CONCEPTS 2

it is one where all partners are general partners with unlimited liability and are therfore liable to partnership creditors even up to the extent of their personal properties especially when partnership becomes insolvent

• Limited partnership

• General Partnership

• Universal partnership of property

• A universal Partnership of profits

is composed of at least one general partner with the others as limited partners who are liable to p[artnership creditors only to the extent of their investment in the partnership

• Limited partnership

• General Partnership

• Universal Partnership of Property

• Universal Partnership of Profits

is one where all the partners conribute all their properties into a common fund

• General partnership

• Limited partnership

• Universal partnership of property

• Universal partnership of profit

is one where thepartners contribute all what they will receive as a result of their work or service rendered during the lifetime of the partnership

• General partnership

• Limited Partnership

• Universal partnership of property

• Universal partnership of profit

is one who manages the partnership, contributes property or service and has unlimited liability assuming risk of loss of personal property in the event partnership becomes insolvent

• General partner

• Limited partner

• Capitalist partner

• Real partner

is one who invest cash or property , has no unlimited liability and has no active role in the management of the partnership

• General partner

• Limited partner

• Capitalist partner

• real partner

is one who contributes property into the partnership fund

• capitalist partner

• industrial partner

• real partner

• nominal partner

is one who contributes industry or service only

• capitalist partner

• industrial partner

• real partner

• nominal partner

is one who is an actual partner

• capitalist partner

• industrial partner

• real partner

• nominal partner

is a partner in name only

• capitalist partner

• industrial partner

• real partner

• nominal partner