Duties and rights of a limited partner.

Obligations of a limited partner

  • Not to take part in the management of the firms business.
  • Not to compete with the firm.
  • Disclose any personal interest to avoid conflict of interest.
  • Not to withdraw or receive back his share during the currency of the firm.

Rights of a limited partner

  • To inspect the firms books of accounts.
  • To assign his share to another person.
  • To receive his share of profit.
  • Right not to be compelled to contribute to the assets of the company.
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