general partnership

general partnership
A partnership in which every partner is fully liable to the full extent of his, her, or its net worth for all the obligations of the partnership. American Banker Glossary
————
A partnership in which all participants are general partners . Bloomberg Financial Dictionary

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general partnership general partnership partnership

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general partnership UK US noun [C] FINANCE
a company that is owned by two or more general partners who share its profits and must pay its debts if it goes bankrupt: »

He will assume the CEO duties on Jan. 1, and will join the current four-member general partnership.

Compare LIMITED PARTNERSHIP(Cf. ↑limited partnership)

Financial and business terms. 2012.

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Look at other dictionaries:

  • general partnership — see partnership Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. general partnership …   Law dictionary

  • General partnership — In the commercial and legal parlance of most countries, a general partnership or simply a partnership, refers to an association of persons or an unincorporated company with the following major features:*Created by agreement, proof of existence… …   Wikipedia

  • General partnership — A partnership in which all partners are general partners. * * * general partnership general partnership ➔ partnership * * * general partnership UK US noun [C] FINANCE ► a company that is owned by two or more general partners who share its profits …   Financial and business terms

  • general partnership — tikroji ūkinė bendrija statusas Aprobuotas sritis įmonių teisė ir įmonių valdymas apibrėžtis Pagal bendrijos veiklos sutartį steigiamas ir veikiantis neribotos civilinės atsakomybės privatusis juridinis asmuo – įmonė, kurios dalyviai yra tikrieji …   Lithuanian dictionary (lietuvių žodynas)

  • general partnership — noun : a common law partnership in which each partner has a general liability for all partnership debts and obligations in full compare limited partnership * * * a partnership in which each of the partners is fully liable for the firm s debts. Cf …   Useful english dictionary

  • general partnership — The ordinary partnership, as distinguished from a limited partnership or partnership association. See partnership …   Ballentine's law dictionary

  • 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. Since all partners have unlimited liability, even innocent partners can be held …   Investment dictionary

  • general partnership — a partnership in which each of the partners is fully liable for the firm s debts. Cf. limited partnership. * * * …   Universalium

  • general partnership — gen′eral part′nership n. bus a partnership in which each of the partners is fully liable for the firm s debts Compare limited partnership …   From formal English to slang

  • general partnership — noun a business partnership in which each partner is liable for the firms debts …   Wiktionary

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