general partner
Definition
One of the co-owners of an unincorporated business (organized as a general partnership) who has control of the firm and, unlike limited or nominal partner, has unlimited personal liability for the firm's debts. Actions taken by one general partner are binding upon the other general partners. Also called full partner. See also limited partner.
general partner is in the Banking, Commerce & Finance, Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.
general partner appears in the definitions of the following terms: full partner, sponsor, limited partnership, general partnership, limited partner and articles of partnership
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