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Legal Topics-Sole Proprietorships and Partnerships

Teacher: Pat Palmer
Across
A partner whose liability does not extend beyond his or her investment.
In the event of a lawsuit, all the partners must be sued together.
This is created by two or more competent parties combine their money, labor, and skills for the purpose of carrying on a lawful business.
A general partner who takes no active role in the management of the partnership; is known publicly as a partner and has unlimited liability for the firm's debts.
Made-up name
Another name for partnership agreement.
Different from a general partnership; a partnership formed by two or more per"sons . . . having one or more general partners and one or more limited partners."
Separately
A form of business that is owned and operated by one person.
Plays as active role in the management of the partnership and is publicly known as a partner.
A Partnership by ___ __ ___ is when individuals form a partnership because of their method of doing business; sharing of profits is prima facie evidence.
A general partner who takes no active part in the management of the firm and whose connection with the firm is kept secret.
Down
A partnership by ___ is one where a third party is led to believe a partnership exists. There is no true partnership created, but the court may treat it as one.
The co-ownership of all real and personal property included in the partnership.
The business owner is responsible for all losses experienced by the business.
A general partner who has an active role in the management of the partnership, but whose connection with the partnership is kept a secret.
A legal detachment.