Kinds of Partners

• Kinds of partners


  • General partner
  • Limited partner
  • Capitalist partner
  • Industrial partner
  • Managing partner
  • Liquidating partner
  • Dormant partner
  • Silent partner
  • Secret partner
  • Nominal partner or partner by estoppel
• General partner


  One who is liable to the extent of his separate property after all the assets of the partnership are exhausted
• Limited partner


  One who is liable only to the extent of his capital contribution. He is not allowed to contribute industry or services only
• Capitalist partner


  One who contributes money or property to the common fund of the partnership
• Industrial partner


  One who contributes his knowledge or personal service to the partnership
• Managing partner


  One whom the partners has appointed as manager of the partnership
• Liquidating partner


  One who is designated to wind up or settle the affairs of the partnership after dissolution
• Dormant partner


  One who does not take active part in the business of the partnership and is not known as a partner
• Silent partner


  One who does not take active part in the business of the partnership though may be known as a partner
• Secret partner


  One who takes active part in the business but is not known to be a partner by outside parties
• Nominal partner or partner by estoppel


  One who is actually not a partner but who represents himself as one