general partnership

general partnership
general partnership see partnership

Merriam-Webster’s Dictionary of Law. . 1996.

general partnership
USA
A type of business entity managed and operated by at least two people (the partners). Each partner in a general partnership is a general partner and therefore has unlimited liability for the partnership's debts and obligations.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • General partnership — In the commercial and legal parlance of most countries, a general partnership or simply a partnership, refers to an association of persons or an unincorporated company with the following major features:*Created by agreement, proof of existence… …   Wikipedia

  • general partnership — A partnership in which every partner is fully liable to the full extent of his, her, or its net worth for all the obligations of the partnership. American Banker Glossary A partnership in which all participants are general partners . Bloomberg… …   Financial and business terms

  • General partnership — A partnership in which all partners are general partners. * * * general partnership general partnership ➔ partnership * * * general partnership UK US noun [C] FINANCE ► a company that is owned by two or more general partners who share its profits …   Financial and business terms

  • general partnership — tikroji ūkinė bendrija statusas Aprobuotas sritis įmonių teisė ir įmonių valdymas apibrėžtis Pagal bendrijos veiklos sutartį steigiamas ir veikiantis neribotos civilinės atsakomybės privatusis juridinis asmuo – įmonė, kurios dalyviai yra tikrieji …   Lithuanian dictionary (lietuvių žodynas)

  • general partnership — noun : a common law partnership in which each partner has a general liability for all partnership debts and obligations in full compare limited partnership * * * a partnership in which each of the partners is fully liable for the firm s debts. Cf …   Useful english dictionary

  • general partnership — The ordinary partnership, as distinguished from a limited partnership or partnership association. See partnership …   Ballentine's law dictionary

  • General Partnership — A arrangement by which partners conducting a business jointly have unlimited liability, which means their personal assets are liable to the partnership s obligations. Since all partners have unlimited liability, even innocent partners can be held …   Investment dictionary

  • general partnership — a partnership in which each of the partners is fully liable for the firm s debts. Cf. limited partnership. * * * …   Universalium

  • general partnership — gen′eral part′nership n. bus a partnership in which each of the partners is fully liable for the firm s debts Compare limited partnership …   From formal English to slang

  • general partnership — noun a business partnership in which each partner is liable for the firms debts …   Wiktionary

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