Partnership 2: Classification of Partnerships & Kinds of Partners

Classification of Partnerships by Object00:00:37

Explains universal partnerships (all present property vs. all profits) and the specific prohibitions against certain individuals forming them. Defines particular partnerships as those with specific objectives, such as professional firms.

Classification by Liability and Duration00:11:17

Distinguishes between general partnerships (unlimited liability) and limited partnerships. Discusses partnerships at will versus those with a fixed term or specific undertaking.

Legality and Representation (Estoppel)00:15:12

Covers de jure and de facto partnerships, and explains partnership by estoppel, where a person can be held liable as a partner to third parties due to their representations, even if no formal partnership exists.

Kinds of Partners by Contribution and Management00:22:58

Defines capitalist versus industrial partners, and categorized partners based on their management roles, such as managing, silent, and liquidating partners.

Additional Partner Categories00:25:38

Details further classifications including ostensible/secret/dormant partners, original/incoming partners, and the specific nature of sub-partners who hold arrangements with existing partners rather than the partnership itself.