In relation to partnership law: discuss; In capacities of a limited partner

• Cannot withdraw or receive back his interest during the currency of the firm.
• May not take part in the management of the firms business. If he does, he becomes a general partner for the duration he acted and may be held personally liable.
• does not bind the firm
• Cannot dissolve the partnership by notice.
• His death of bankruptcy or insanity does not lead to dissolution.
• Charging of his interest for a private debt does not lead to dissolution.
• Unless otherwise provided the firms affairs are wound up by a general partner.
• A person may be admitted as partner without consent of the limited partner.

Share through

Leave a Reply

Your email address will not be published. Required fields are marked *