HANDOUT NO. 2P
KINDS OF PARTNERS
(1) As to Contribution
a) Capitalist partner – one who contributes money or property to the common
fund.
b) Industrial partner – one who contributes industry or services to the common
fund.
(2) As to Liability
a) General partner – one who can be held liable for partnership obligations
even to the extent of their private property.
c) Limited partner or Special Partner – one whose liability extends only to his
contribution to the partnership.
(3) As to Nature of Management Work
a) Managing partner – one who is appointed by the partners as manager of the
partnership business.
b) Liquidating partner – one who handles the affairs of the partnership after
dissolution.
(4) As to Knowledge by the Public
