| 释义 |
partnership
n. An association of two or more people formed for the purpose of carrying on a business with a view to profit. Partnerships are governed by the Partnership Act 1890. Unlike an incorporated company or a limited liability partnership, a partnership does not have a legal personality of its own and therefore partners are liable for the debts of the firm. On leaving the firm they remain liable for debts already incurred; they cease to be liable for future debts if proper notice of retirement has been published. A limited partnership is governed by the Limited Partnership Act 1907. It consists of general partners, who are fully liable for partnership debts, and limited partners, who are liable to the extent of their investment. Limited partners lose their limits of liability if they take part in management. A partnership at will is one for which no fixed duration has been agreed. Any partner may end the partnership at any time provided that he gives notice of his intention to do so to all the other partners, subject to any restriction in the partnership deed. |