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SourceLaw Dictionary Browse Letter P

Partner

Legal definition for Indian law research

Definition

partner


: one of two or more persons associated as joint principals in carrying on a business for the purpose of enjoying a joint profit
: a member of a partnership
;specif
: a partner in a law firm

dormant partner
: silent partner in this entry

general partner
: a partner whose liability for partnership debts and obligations is unlimited compare limited partner in this entry

lim·it·ed partner
: a partner in a venture who has no management authority and whose liability is limited to the amount of his or her investment compare general partner in this entry

partner in com·men·dam
[-in-kə-men-dəm, -kō-men-dÄ m]
in the civil law of Louisiana
: limited partner in this entry

si·lent partner
: a partner who takes no active part in conducting the partnership business but who receives a share of its profits and whose existence is often not made public called also dormant partner




Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.

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