- liquidating partner
The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.Category: Business, LLCs & Corporations → Buying or Selling a BusinessCategory: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
Look at other dictionaries:
liquidating partner — A partner who accomplishes or participates in the liquidation of the firm. Garretson v Brown, 185 Pa 447, 452, 40 A 293. Under the provisions of the Uniform Partnership Act, unless otherwise agreed, the partners who have not wrongfully dissolved… … Ballentine's law dictionary
liquidating partner — The member of an insolvent or dissolving partnership who is responsible for paying the partnership s debts and settling its accounts … Business law dictionary
partner — A member of partnership or firm; one who has united with others to form a partnership in business. See also general partner partnership. @ dormant partners Those whose names are not known or do not appear as partners, but who nevertheless are… … Black's law dictionary
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