Silent Partners Are Active in a Business but Generally Are

question 74

True/False

Silent partners are active in a business but generally are known to be members of the partnership.

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Definitions:

Create A Society

The process of legally establishing a group or organization with a common purpose.

Withhold Information

The act of deliberately refraining from disclosing certain details or facts that may be necessary or requested.

Agent

An individual or entity authorized to act on behalf of another person or entity in legal or business matters.

Limited Partner

An investor in a partnership who has limited liability to the extent of their investment and does not participate in day-to-day management.