5 Questions
What type of partnership is also known as partnership by estoppel?
Partner by Holding Out
Which type of partner contributes to capital but has no active participation in the business?
Sleeping Partner
Which type of partner is liable for all acts of the firm as if he were a real partner, but is not entitled to share the profits?
Nominal Partner
Which type of partner can be admitted to a firm already in existence and is not liable for the firm's acts done before his admission?
Incoming Partner
What type of partner is admitted only for benefits and is not liable to share the firm's liabilities?
Minor
Test your knowledge on the different types of partners in a business, including actual partners, nominal partners, sleeping partners, and sub-partners.
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