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Yes. A corporation is an artificial person but is a person according to the law and thus can be a partner in a partnership.
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General Partnership - Abbreviation?
A general partnership is a business design in which each partner of the business is responsible for the companyâ??s debts. The actions of one partner are binding for each partner within this relationship. The abbreviation for a general partnership is GP.
What does partnership mean?
partnership means like two groups working together to get the job done
What you use the word for who partnership in an evil deed?
the word used for a partner in an evil deed is accomplice
What is the abstract noun of partner?
The noun 'partner' is an abstract noun, a word for one person or thing associated in some way with another person or thing. A person and a thing are physical but their association is a concept, something that is known or understood.
What is the definition of a nominal partnership?
WHAT IS NOMINAL PARTNERA person who neither has ownership rights or active involvement in the firm's affairs, but has a strong interest in the success of the partnership firm. Often a well known, well connected individual whose association lends credibility and recognition to the firm is suited to the role of a nominal partner. This individual also known as a limited or ostensible partner, is paid a fee for his service.definitionPerson who has an interest in the success of a partnership firm but, legally, is not partner because he or she neither owns a part of the firm nor actively participates in its affairs. Often a nominal partner is a well known, well connected individual whose name lends credibility and recognition to the firm, and is paid a fee for this service. Also called limited partner or ostensible partner.
Can a partnership have directors?
Where a corporation is a partner in a partnership, the corporation's directors can have an indirect effect on the partnership.
Can a trust be a partner within a partnership?
yep trust is the main thing in your relationship
Can as s corporation be a partner in a partnership?
It is possible for an s-corporation to be a partner in a partnership. You should check with a legal authority to see if there are any special requirements to affect this status for the s-corporation.
Difference between partnership and public limited company?
A partnership is a legal term to define a joint venture of 2 or more persons. In a partnership all of the partners are jointly and severally liable for any losses. In this type of arrangement each partner can be forced to pay for all of any debts. They would then have the option of going after the other partners for their pro-rata share of the debt. In a limited partnership the only entity liable for the debts is the "general partner". The general partner can be either a person or another partnership or corporation. In a corporation the corporation is the only entity liable for debts. The owners are not liable. The corporation is a fictional "person" in the eyes of the law.
Can a company be a partner in a partnership?
Yes, if the charter or articles of organization permit it, and assuming all necessary steps in the bylaws are followed.AnswerIn the Philippine law, it is not allowed. A Corporation cannot be a partner in a partnership but another partnership can. That is what I read on our law book by Hector de Leon..
What partnership requires only one partner to be a general partner?
A partnership that requires only one partner to be a general partner is called a limited partnership. This is a form of partnership.
Example problems on accounting for partnership and corporation?
a.b,c formed a partnership w/ the following information: A, a capitalist partner, is to contribute 600,000 B, a capitalist and industrial partner, is to contribute 200,000 C, an industrial, is to contribute his skill.
Can a corporation be a partner in another corporation?
A partnership is a different legal entity than a corporation. Therefore, literally speaking a corporation cannot be a partner in another corporation because corporations don't have partners. A corporation can be a security holder in another corporation. For example, a corporation that owns all of another corporation would be the "parent company," and the owned corporation would be a "wholly-owned subsidiary."Please note, at least here in the US, two corporations can form a partnership and it is not limited to actual people. There are some situations when this is advantageous over just forming a joint venture.
What is the least common a corporation sole proprietorship partnership or limited corporation?
partnership
Is a partnership or corporation?
T-Mobile is a Corporation.
Can an llc be a partner in a partnership?
Yes, an LLC can be a partner is a partnership and they often are. In this case, all partners in the general partnership are general partners.
How do you relinquish a partnership if the partner does not buy you out?
Withdraw as a partner. The partnership agreement should address this issue.
