general partnership
noun
a partnership in which each of the partners is fully liable for the firm's debts.
- Compare limited partnership.
Words Nearby general partnership
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use general partnership in a sentence
What is the principal distinction between limited and general partnership?
Partners in a general partnership are each liable, individually, for the full amount of the firm's indebtedness.
Commercial Law | Samuel Williston, Richard D. Currier, and Richard W. Hill
Browse