What can you tell me about the obligations for the general partner?
|
|
|
| Author |
Message |
che
Apprentice
Joined: 09 Jun 2004
Posts: 5
|
 Posted: 06/07/08 - 10:23 Post subject: |
 |
|
| I am looking into setting up a business with a friend of mine. It is going to be some kind of partnership for sure, in part due to the very nature of the business, but we are not yet sure what type of partnership we are going to choose. Can you tell me what the obligations are of a general partner? |
|
|
Back to top
|
|
|
|
 |
garland
Apprentice
Joined: 25 Feb 2008
Posts: 3
|
| Posted: 07/07/08 - 03:56 Post subject: |
|
|
| There are a lot of differences between the different types of partnerships and the one you are mentioning is one in which you are both (or all) responsible for the liabilities of the company in an unlimited way. This is a favorable way of doing business sometimes, although you have to be aware that you are vulnerable. |
|
|
Back to top
|
|
|
|
|
|
  |
All times are GMT
|
|
|
