Printer Friendly
The Free Dictionary
967,928,081 visitors served.
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

general partnership
(redirected from General partners)

    Also found in: Wikipedia 0.04 sec.
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.

Notes:
Since all partners have unlimited liability, even innocent partners can be held responsible when another partner commits inappropriate or illegal actions. This fact alone demonstrates how an investor should heed caution when deciding on whether to become a general partner.

General partnership
A partnership in which all participants are general partners. 
general partnership
A partnership in which each of the partners is liable for all of the firm's debts and the actions of one partner are binding on each of the other partners. Compare limited partnership.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
 
76 billion, papers filed by the lawyers for his general partners contend that Trump is trying to avoid the terms of his 1994 partnership deal and pressure the partners to cash Trump out before he is entitled.
Judge denies Trump's plea to freeze $1.76B by Real Estate Weekly
Subsequently, Abel Galletti and three other general partners filed petitions for bankruptcy.
The tax is assessed, not the taxpayer by Mannino, Laura Lee / Journal of Accountancy
3/23/04, the Supreme Court decided that the IRS could collect a partnership tax liability from the general partners without first assessing the tax against them.
IRS can assess partnership, but collect from partners by Lynch, Jim / The Tax Adviser
More results
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2008 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.