Limited Partnership

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.

Related Legal Terms

You might be also interested in these legal terms:

Mentioned in these terms

Partner, Partnership.

Browse

You might be interested in these references tools:

Resource Description
Limited Partnership in the Dictionary Limited Partnership in our legal dictionaries
Browse the Legal Thesaurus Find synonyms and related words of Limited Partnership
Legal Maxims Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law
Legal Answers (Q&A) A community-driven knowledge creation process, of enduring value to a broad audience
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.

Vocabularies (Semantic Web Information)

Resource Description
Topic Map A group of names, occurrences and associations
Topic Tree A topic display format, showing the hierarchy
Sitemap Index Sitemap Index, including Taxonomies
https://legaldictionary.lawin.org/limited-partnership/ The URI of Limited Partnership (more about URIs)

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

For a more comprehensive understanding of Limited partnership, see in the general part of the online platform.[rtbs name=”xxx-xxx”]

Resources

Translation of Limited partnership

Thesaurus of Limited partnership

Business And Competition > Legal form of organisations > Organisation > Firm governed by commercial law > Limited partnership

See also

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *