Definition of SPECIAL PARTNERSHIP.


SPECIAL PARTNERSHIP.

Special or limited partnerships are of two
kinds; 1. Those at common law. 2. Limited partnerships, or those in commendam.


2. Special partnerships at common law, are those formed for a
particular or special branch of business, as contradistinguished from the
general business of the parties, or of one of them.


3. A limited or special partnership, under special acts of assembly,
may be found in several states. In such partnerships some of the partners are
liable as general partners, while others are responsible only to the extent of
the capital they have furnished. See 2 Bouv. Inst. n. 1472, 1473, and In
Commendam; Partnership.




Source: Bouviers Law Dictionary 1856 Edition

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