What is meaning of partner by holding out ,limited partners ,senior partners and junior partners?
Answers
⏺️Holding out partner ⏩A person who has no partnership in the form but his words would conduct highlight him as a partner.
⏺️ Limited Partner ⏩ A person whose Liability is limited to his investment in the business.
⏺️ Junior Partner ⏩Any person lacking the capacity of contract cannot become a partner.
⏺️ Senior Partner ⏩ Person who satisfy the Prerequisites of a contract in the partnership firm is called senior partner.
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Answer:
holdin.g partne.r -A partne.r by holdin.g out mean.s a perso.n who is not a membe.r of firm but allow.s himsel.f/herself to be represente.d as apartne.r. Such perso.n is responsibl.e to perso.n who has given loa.n to fir.m on his representatio.n becaus.e loa.n has been give.n by assumin.g that he/she is membe.r
limite.d partne.r -A limite.d partne.r is a part-owne.r of a compan.y whos.e liabilit.y for the firm's debt.s canno.t excee.d the amoun.t that an individua.l investe.d in the compan.y. Limite.d partner.s are ofte.n called silen.t partner.s.
Junio.r partne.r-A junio.r partne.r is a partne.r whos.e participatio.n is limite.d with respec. t to both profit.s and managemen.t. In other word.s, a junior partne.r is a perso n whose leve.l of involvemen.t, responsibilit.y, risk.s, and reward.s are comparativel.y lesse.r than that of the senio.r partner.s.
Senio.r partne.r-A membe.r of a grou.p that has mor.e power or influenc.e than othe r member.s. 'the senio.r partneri.n the five-party coalitio.n governmen. t' More exampl e sentence.s.
Explanation:
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