Legal Definition and Related Resources of Limited Partnership
Meaning of Limited Partnership
A partnership formed by two or more persons having as members one or more general partners and one or more limited partners. See uniform Limited Partnership Act, §1. while civil law recog-nized limited partnerships, common law did not and limited partnership in common law jurisdictions is purely a creature of statute . See Riviera Congress Associates v Yassky, 268 N. Y.S.2d 854. While the general partner in such a partnership has rights , powers and obligations similar to a partner in ordinary partnership, a limited partner on the other hand is analogous to an investing creditor , with no rights in the partnership assets , having however priority over other partners in the distribution of assets; he is entitled to a share in profits but his claim is subordinate to that of general creditors. See Klebanow v New York produce exchange , (C.A.2.N. Y.)344 F.2d294.
Limited Partnership Alternative Definition
One wherein the liability of one or more of the members is, by compliance with certain statutory provisions, limited to the amount of their contribution to the capital stock. The term special partnership is sometimes used; but limited partnership seems better, for particular partnerships, or partnerships for a single transaction, are sometimes called special partnerships.
Financial Definition of Limited Partnership
A partnership that includes one or more partners who have limited liability.
Related Entries of Limited Partnership in the Encyclopedia of Law Project
Browse or run a search for Limited Partnership in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Limited Partnership in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Limited Partnership in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Limited Partnership in the Legal Abbreviations and Acronyms Dictionary.
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Limited Partnership in the Dictionary | Limited Partnership in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Limited Partnership |
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Related topics | Limited Partnership in the World Encyclopedia of Law |
Notice
This definition of Limited Partnership is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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English Spanish Translation of Limited partnership
sociedad en comandita
Find other English to Spanish translations from the Pocket Spanish English Legal Dictionary (print and online), the English to Spanish to English dictionaries (like Limited partnership) and the Word reference legal translator.
Limited Partnership Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Limited Partnership in a way that is easy for anybody to understand: PARTNERSHIP in which one or more partners, but not all, have LIMITED LIABILITY to CREDITORS of the partnership.
Concept of Limited Partnership in the context of Real Property
A short definition of Limited Partnership: Used in many real estate syndications; a partnership consisting of one or more general partners who conduct the business and are responsible (liable) for losses, and one or more special (limited) partners, contributing capital and liable only up to the amount contributed.
Concept of Limited Partnership in the context of Real Property
A short definition of Limited Partnership: Used in many real estate syndications; a partnership consisting of one or more general partners who conduct the business and are responsible (liable) for losses, and one or more special (limited) partners, contributing capital and liable only up to the amount contributed.
Hierarchical Display of Limited partnership
Business And Competition > Legal form of organisations > Organisation > Firm governed by commercial law
Meaning of Limited partnership
Overview and more information about Limited partnership
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Resources
Translation of Limited partnership
- Spanish: Sociedad comanditaria
- French: Société en commandite
- German: Kommanditgesellschaft
- Italian: Società in accomandita
- Portuguese: Sociedade em comandita
- Polish: Spółka komandytowa
Thesaurus of Limited partnership
Business And Competition > Legal form of organisations > Organisation > Firm governed by commercial law > Limited partnership
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