Limited partnership

Definition
: a partnership in which the business is managed by one or more general partners and is provided with capital by limited partners who do not participate in management but who share in profits and whose individual liability is limited to the amount of their respective capital contributions
compare general partnership in this entry

Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
http://www.m-w.com

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collateral estoppel

estoppel by judgment barring the relitigation of issues litigated by the same parties on a different cause of action

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