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What is a general partnership?

What is a general partnership? Here are some definitions.

Noun
  1. A business partnership in which each partner is liable for the firm's debts.
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However, an interest in a general partnership is not a qualified investment.
Your notary can describe the advantages and disadvantages of a joint-stock company, a limited or general partnership, or even a joint venture.
Partners in a general partnership are each liable, individually, for the full amount of the firm's indebtedness.
All partners bear the unlimited liability for the obligations of the general partnership.
Professor Heavin's paper reviews proposed reforms of general partnership law in both the United States and the United Kingdom.
In November 2005, Uniprix officialized the creation of Unidis, a general partnership, in synergy with McKesson Canada.

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