what are the various type of partner's
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There are various types of partners in business, they are :
1. Working Partner : They contribute capital to the business and take active part in its management.
2. Nominal Partner : He does not give any capital to the business or neither he is the active part in the management. He allows the other partners to make use of his name.
3. Sleeping Partner : They only provides capital to the business. They do not take part in the business.
4. Limited Partner : These are the partners with limited liability.
5. Secret Partner : He is actually a partner in the firm . He does not disclose that is a partnership, he keeps his existence secret.
6. Partner by Estoppel : He is not a partner of the fire but by his words and conduct he leads the outsiders to believe that he is also a partner of the firm .
7. Sub - Partner : He has no direct contact with the firm .
8. Partner in Profit : Whenever the firm answer profit he becomes the partner. His liability is also unlimited.
9. Partner by holding Out : He is not actually a partner but he works for the business.
1. Working Partner : They contribute capital to the business and take active part in its management.
2. Nominal Partner : He does not give any capital to the business or neither he is the active part in the management. He allows the other partners to make use of his name.
3. Sleeping Partner : They only provides capital to the business. They do not take part in the business.
4. Limited Partner : These are the partners with limited liability.
5. Secret Partner : He is actually a partner in the firm . He does not disclose that is a partnership, he keeps his existence secret.
6. Partner by Estoppel : He is not a partner of the fire but by his words and conduct he leads the outsiders to believe that he is also a partner of the firm .
7. Sub - Partner : He has no direct contact with the firm .
8. Partner in Profit : Whenever the firm answer profit he becomes the partner. His liability is also unlimited.
9. Partner by holding Out : He is not actually a partner but he works for the business.