A Partner Who Generally Does Not Participate Actively in the Business

question 84

True/False

A partner who generally does not participate actively in the business and whose liability is limited to the amount invested in the partnership is called a general partner.

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Definitions:

Bargaining Power

The relative capacity of parties in a situation to exert influence over each other, usually in negotiations.

Commercial Contractors

are businesses or individuals that are contracted to perform work or provide services as part of commercial or business activities.

Consumer Lease

A legal agreement where a consumer agrees to rent personal property, like a car or household appliance, for personal, family, or household use for a period of time.

State Statute

A written law passed by a legislative body at the state level.