Coursework.Info - Inspiration in an Instant

On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:

Deed of partnership A written document that sets out the business relationship between members of a partnership. Limited Partner A member of a partnership who has unlimited liability. Such partners invest money and have a share of the profit, but play no part in running the firm. Partnership Where two or more people own a business together with a view to making a profit. Sleeping partner A member of a partnership who invests money in the firm but plays no part in its running. What is a partnership? A partnership exists when two or more people own a business together with a view to making a profit. Most partners have unlimited liability, therefore if the business fails they can lose all their personal wealth. A maximum of 20 partners is allowed in general partnership. Each partner is a part owner in the business and has the right to take part in running it. Sleeping partners of limited partners may invest in the business...

Get instant access

• Instant, unlimited access to our documents in full
• Swap your work for free access, or pay £4.99
• To see the full version of this document and 149,488 others