Types of partners
- Active partner. This is one who contributes capital and takes part in the active management of the business. He also shares profits and losses jointly with other members of the partnership.
- Dormant partner. This is one who does not take part in the active management of the business but contributes the capital and shares losses and profits of the business.
- Quasi partner. This is a partner who offers his name to be used as the name of the partnership. He does not contribute capital to the business and does not take part in the active management of the business. He is not responsible for any debts and losses incurred by the business.
CATEGORIES Economics
TAGS Dr. Bbosa Science
