Has silent partner a liability for debts?
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marielle
Apprentice
Joined: 28 Dec 2005
Posts: 9
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 Posted: 09/10/08 - 07:28 Post subject: |
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| I know that in some branches of industry there are often silent partners involved in the deal. This particularly affects branches like construction. Can you tell me what the role and responsibilities are of such a silent partner? Has a silent partner got liability for debts which are sometimes built up? |
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budd
Apprentice
Joined: 15 May 2007
Posts: 3
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| Posted: 10/10/08 - 00:04 Post subject: |
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| No of course he has not, he is, after all, a silent partner, a secret partner if you like, or even worse, a sleazy wheeler dealer. Mind you, this goes on so much that is looses its sleaziness, but not its illegality. For this reason - that it is secret - such a person or company does not have any liability. I hope this answers your question. |
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