Christmas season is starting now, you can see that people are too busy now buying for their Christmas decoration as well as gift. But for me, whenever this season comes it is a time for me to have business. Since our house lies near a church where people for sure will drop by [...]
A limited partner consents to contribute money to the partnership, but he also agrees not to participate in the management of the business and leaves this to the other partner or partners. The primary advantage of being a limited partner is that he does not incur personal liability for the obligations of the partnership. Partnership [...]
Well-structured limited partnership agreements provide that the general partners and the limited partners cannot sell, give, or in any manner dispose of their interests in the limited partnership without the consent of all the other partners. This provision works well in the asset protection arena.
If a creditor has a judgment against a partner, that creditor [...]
The origins of partnerships could be traced to the Babylonians, the Romans and the merchants of the Middle Ages over 4,000 years ago. From the Irish Sea to the Persian Gulf, merchants had their own courts that they used to enforce the customs of commerce.
By the 13th century the English became familiar with partnerships due [...]