Ryder and sergei are partners in timberline gear, which sells mountain- and rock-climbing equipment. ryder manages the business. unless the partnership agreement states otherwise, ryder is?

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02-08-2017
Business

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Ryder and sergei are partners in timberline gear, which sells mountain- and rock-climbing equipment. ryder manages the business. unless the partnership agreement states otherwise, ryder is?

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mathmate mathmate · Answer 1 · 2017-08-03T03:13:25+02:00

Ryder and Sergei are in one of the three partnerships (general, limited and limited liability), namely limited partnership.

In limited partnership, one or more of the partners takes on a limited liability status (limited partner), but they do not have the right to the management of the company. At least one partner must assume all liabilities personally. This partner (general partner) has the right to control and management of the company.

[ source: FindLaw ]