a term used for the partner who has given funds to a partnership but isn’t engaged actively in running the business.
P | Page 14
P
PARTNER LIQUIDATING
a term that is given to the partner given the task of winding up and terminating of a firm that is going out of business.
PARTNER NOMINAL
the name that is given to a partnership member who is thought to be an active member but in reality has no interest in the business.
PARTNER OSTENSIBLE
the name that is given to a member of the public who is thought to be a member of a partnership .
PARTNER SECRET
a term that is the same as a dormant partner or a silent partner .
PARTNER SILENT
the term that is the same as a dormant or a secret partner .
PARTNER SPECIAL
the term given to the partner who is not totally engaged in the business, person liable only to the amount of money invested or a member of a limited partnership […]
PARTNER SURVIVING
the name that is given to a partner who will settle the partnership affairs when the business is dissolved when one partner dies.
PARTNER’S LIEN
The right of a partner to use any contributions that he/ she gets from other partners, and deduct them from the debts owed by the partners in that partnership .
PARTNERING
Setting up a mutually beneficial relation between two or more parties, based upon teamwork, trust as well as honesty between the partners. These agreements might be made between the management […]
PARTNERSHIP
A voluntary contract between two or more competent persons to place their money, effects, labor, and skill, or some or all of them, in lawful commerce or business, with the […]
PARTNERSHIP AGREEMENT
An express or implied agreement made between two or more parties, depicting their entry in to a for profit business and making them official partners. The agreement depicts the nature […]
PARTNERSHIP ASSETS
the term that is applied to the property that belongs to a partnership and not the individual members.
PARTNERSHIP ASSOCIATION
the term that is given to the association that is formed under existing laws limiting the responsibility of each partner to the sum of money he has invested.
PARTNERSHIP AT WILL
the tern given to the association of 2 or more people that will continue as the long as the people involved want it to.
PARTNERSHIP BY ESTOPPEL
A legal, binding partnership that may occur where previously , no formal partnership agreement was in place. A person who exhibits such conduct, or says words which represent, or allow […]
PARTNERSHIP CAPITAL ACCOUNT
An account which shows the capital that has been contributed by a partner, as well as any profits, after cutting out the distributions and losses.
PARTNERSHIP DEBT
a term that is used for the debt or the obligation of a partnership and not to an individual .
PARTNERSHIP GENERAL
the term that is applied to an ordinary partnership where all of the partners are committed to the business.
PARTNERSHIP GOODWILL
the term given to the intangible asset without a set value that h is obtained from the high regard of customers and their satisfaction of a service or goods.
PARTNERSHIP INSURANCE
Insurance cover provided for any partnership . In usual cases, partnership insurance is taken so as to allow the business to keep on performing in a regular manner in case […]
PARTNERSHIP LIMITED
the term that is given to a partnership involving a financial agreement where a person is only liable for the sum of money that he invested if the company fails.
PARTNERSHIP PARTICULAR
The term that is given for a joint partnership that is formed for the purpose to conduct one transaction .
PARTS PER BILLION (PPB)
A concentrated volume of a part of gas, or any other substance, compared to billion parts of the air or liquid. For instance, a rough comparison is made when a […]
PARTS PER MILLION (PPM)
A concentrated volume of any gas, or part of it, or any other substance, compared to a million particles of liquid or air. A fair comparison can be that of […]