Assertion: partnership's partner | /r/HasAspect | responsibility
Facets:
value: for job performance
type: OTHER
value: for business outcomes
type: TRANSITIVE-OBJECT
value: for each part of the business
type: OTHER
value: for the actions of other partners
type: OTHER
Source sentences:
text: The general partner is also fully liable for the debts and liabilities of the partnership because the general partner has responsibilities and control and makes decisions that affect the partnership.
text: Individual partners bear responsibility for the actions of other partners.
text: So long as a limited partner's engagement in the business is within the scope allowed by the partnership agreement, courts usually find that a limited partner has no responsibility for business outcomes.
text: Furthermore, if a written agreement for the partnership is unclear, then arguments can easily result about which partner bears the responsibility for each part of the business.
text: The partnership agreement is based on each partner having the responsibility for job performance, whatever it may entail.
text: The nature and terms to other basis of distributive shares should be articulated in writing, in so far as the IRS and the partners understand rights and responsibilities to the partnership and its debts.
text: Partners have equal rights and responsibilities regarding management of the business;
text: When a legal partnership is in place, each partner has rights and responsibilities within the business, as determined by the laws of the state.