Partnership in commendam

Partnership in commendam
Partnership Part"ner*ship, n. 1. The state or condition of being a partner; as, to be in partnership with another; to have partnership in the fortunes of a family or a state. [1913 Webster]

2. A division or sharing among partners; joint possession or interest. [1913 Webster]

Rome, that ne'er knew three lordly heads before, First fell by fatal partnership of power. --Rowe. [1913 Webster]

He does possession keep, And is too wise to hazard partnership. --Dryden. [1913 Webster]

3. An alliance or association of persons for the prosecution of an undertaking or a business on joint account; a company; a firm; a house; as, to form a partnership. [1913 Webster]

4. (Law) A contract between two or more competent persons for joining together their money, goods, labor, and skill, or any or all of them, under an understanding that there shall be a communion of profit between them, and for the purpose of carrying on a legal trade, business, or adventure. --Kent. --Story. [1913 Webster]

Note: Community of profit is absolutely essential to, though not necessarily the test of, a partnership. [1913 Webster]

5. (Arith.) See {Fellowship}, n., 6. [1913 Webster]

{Limited partnership}, a form of partnership in which the firm consists of one or more general partners, jointly and severally responsible as ordinary partners, and one or more special partners, who are not liable for the debts of the partnership beyond the amount of cash they contribute as capital.

{Partnership in commendam}, the title given to the limited partnership (F. soci['e]t['e] en commandit['e]) of the French law, introduced into the code of Louisiana. --Burrill.

{Silent partnership}, the relation of partnership sustained by a person who furnishes capital only. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

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  • Partnership in commendam — Commendam Com*men dam, n. [LL. dare in commendam to give into trust.] (Eng. Eccl. Law) A vacant living or benefice commended to a cleric (usually a bishop) who enjoyed the revenue until a pastor was provided. A living so held was said to be held… …   The Collaborative International Dictionary of English

  • partnership in commendam — see partnership Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Commendam — Com*men dam, n. [LL. dare in commendam to give into trust.] (Eng. Eccl. Law) A vacant living or benefice commended to a cleric (usually a bishop) who enjoyed the revenue until a pastor was provided. A living so held was said to be held in… …   The Collaborative International Dictionary of English

  • partnership — part·ner·ship n: an association of two or more persons or entities that conduct a business for profit as co owners see also uniform partnership act in the important laws section compare corporation, joint venture, sole pro …   Law dictionary

  • Partnership — Part ner*ship, n. 1. The state or condition of being a partner; as, to be in partnership with another; to have partnership in the fortunes of a family or a state. [1913 Webster] 2. A division or sharing among partners; joint possession or… …   The Collaborative International Dictionary of English

  • commendam — /kamendam/ In ecclesiastical law, the appointment of a suitable clerk to hold a void or vacant benefice or church living until a regular pastor be appointed. In commercial law, a species of limited partnership. The limited partnership (or societe …   Black's law dictionary

  • commendam — /kamendam/ In ecclesiastical law, the appointment of a suitable clerk to hold a void or vacant benefice or church living until a regular pastor be appointed. In commercial law, a species of limited partnership. The limited partnership (or societe …   Black's law dictionary

  • partnership — A business owned by two or more persons that is not organized as a corporation. A voluntary contract between two or more competent persons to place their money, effects, labor, and skill, or some or all of them, in lawful commerce or business,… …   Black's law dictionary

  • PARTNERSHIP — Formation The earliest form of commercial partnership in Jewish law was partnership in property, or joint ownership. Craftsmen or tradesmen who wished to form a partnership were required to place money in a common bag and lift it or execute some… …   Encyclopedia of Judaism

  • Limited partnership — Partnership Part ner*ship, n. 1. The state or condition of being a partner; as, to be in partnership with another; to have partnership in the fortunes of a family or a state. [1913 Webster] 2. A division or sharing among partners; joint… …   The Collaborative International Dictionary of English

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