Louisiana Civil Code 2843 – Restrictions on the partner in commendam with regard to management or administration of the partnership.
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Terms Used In Louisiana Civil Code 2843
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A partner in commendam does not have the authority of a general partner to bind the partnership, to participate in the management or administration of the partnership, or to conduct any business with third parties on behalf of the partnership.
Acts 1980, No. 150, §1.