partnership, general
A partnership in which partners share profits, losses, and management equally, regardless of the contributions to capital made by each of them.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

Look at other dictionaries:

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  • Partnership — Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability. See: general partnership, limited partnership, and master limited partnership. The New York Times Financial Glossary * * *… …   Financial and business terms

  • 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 and business terms

  • 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

  • partnership — A business owned by two or more persons that is not organized as a corporation. A voluntary contract between two or more competent persons to place their money, effects, labor, and skill, or some or all of them, in lawful commerce or business,… …   Black's law dictionary

  • general — From Latin word genus. It relates to the whole kind, class, or order. Leuthold v. Brandjord, 100 Mont. 96, 47 P.2d 41, 45. Pertaining to or designating the genus or class, as distinguished from that which characterizes the species or individual;… …   Black's law dictionary

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

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