answersLogoWhite

0

ordinary:in an ordinary partnership the partners are jointly and severally liable for the debts of the undertaking.

extra ordinary:where the liability of the partners towards third parties are limited

User Avatar

Wiki User

13y ago

What else can I help you with?

Continue Learning about Other Business

What is the difference between a joint venture partner and subcontractor?

subcontractor join to main contractor to form joint venture but that venture is not partnership


What is the difference between sole proprietorship partnership joint stock company?

A sole proprietorship is owned and ran by one person, a joint partnership is owned and ran by two or more people equally, and a stock company is owned by stockholders and ran by a CEO.


What best describes an important difference between general partnerships and limited parnerships?

The key difference between general partnerships and limited partnerships lies in the liability and management structure. In a general partnership, all partners share equal responsibility for managing the business and are personally liable for its debts. In contrast, a limited partnership includes both general partners, who manage the business and have full liability, and limited partners, who contribute capital but have limited liability and typically do not participate in day-to-day management. This structure allows limited partners to invest without risking their personal assets beyond their investment in the partnership.


What are 3 examples of a partnership?

Partnerships are seen everywhere. There are many different types of partnerships. One type of partnership is the one between animals and parasites.


How do you establish partnership between two companies?

Is it possible to establish a partnership between two companies? I have a company that want our company to provide professional services but the company do not have capital to purchase the services. Therefore, we want to exchange our professional services for stock option and cash profits.

Related Questions

The only difference between ordinary and extraordinary is that little extra What movie is this quote from?

The quote is from the movie "Waiting..." with Ryan Reynolds, Justin Long and Dane Cook.


What is the difference between ordinary and extra ordinary?

EXTRA!!


What is the difference between an ordinary grant and a tied grant?

The difference between a tied grant and an ordinary grant is that a tied grant has conditions and the ordinary grants don't!


What is the difference between ordinary prism and constant deviation prism?

difference between ordinary prism and constant deviation prism


What is the difference between a partnership and joint venture?

dfdfdfdsf


What is the difference between ordinary partnership and limited partnership?

In an ordinary partnership, all partners share equal responsibility for managing the business and are personally liable for its debts. In contrast, a limited partnership consists of at least one general partner, who manages the business and bears unlimited liability, and one or more limited partners, who contribute capital but have limited liability and do not participate in management. This structure allows limited partners to invest without risking more than their investment amount.


Difference and similarities between partnership and agency laws?

mwanaidi.


What is the main difference between a sole proprietorship and a partnership?

The main difference between a sole proprietorship and a partnership is that a sole proprietorship is owned and operated by one person, while a partnership is owned and operated by two or more people who share profits and responsibilities.


What is extraordinary partnership?

An extraordinary partnership is a collaboration between individuals or organizations that transcends typical alliances, characterized by a deep mutual trust, shared vision, and complementary strengths. This type of partnership often leads to innovative solutions and significant impact in their respective fields. It relies on open communication, resilience in the face of challenges, and a commitment to achieving common goals. Ultimately, extraordinary partnerships can drive transformative change and foster lasting relationships.


Difference between sole proprietorship and partnership?

A sole proprietor is a person who is in business for themselves. A partnership is two or more people who are in business for themselves.


One difference between tragedy and comedy is that tradegy?

Uses an extraordinary hero.


What is the difference between a partnership and an operating agreement?

The difference between a partnership agreement and an operating agreement is that in the partnership agreement is set up for all owners or partners to be responsible for the company. The operating agreements differs in the fact that the agreement is for the person or people in charge of the operating requirements for the company.