Partnership in commendam
Partnership Part"ner*ship, n. 1. The state or condition of being a partner; as, to be in partnership with another; to have partnership in the fortunes of a family or a state. [1913 Webster]

2. A division or sharing among partners; joint possession or interest. [1913 Webster]

Rome, that ne'er knew three lordly heads before, First fell by fatal partnership of power. --Rowe. [1913 Webster]

He does possession keep, And is too wise to hazard partnership. --Dryden. [1913 Webster]

3. An alliance or association of persons for the prosecution of an undertaking or a business on joint account; a company; a firm; a house; as, to form a partnership. [1913 Webster]

4. (Law) A contract between two or more competent persons for joining together their money, goods, labor, and skill, or any or all of them, under an understanding that there shall be a communion of profit between them, and for the purpose of carrying on a legal trade, business, or adventure. --Kent. --Story. [1913 Webster]

Note: Community of profit is absolutely essential to, though not necessarily the test of, a partnership. [1913 Webster]

5. (Arith.) See {Fellowship}, n., 6. [1913 Webster]

{Limited partnership}, a form of partnership in which the firm consists of one or more general partners, jointly and severally responsible as ordinary partners, and one or more special partners, who are not liable for the debts of the partnership beyond the amount of cash they contribute as capital.

{Partnership in commendam}, the title given to the limited partnership (F. soci['e]t['e] en commandit['e]) of the French law, introduced into the code of Louisiana. --Burrill.

{Silent partnership}, the relation of partnership sustained by a person who furnishes capital only. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • Partnership in commendam — Commendam Com*men dam, n. [LL. dare in commendam to give into trust.] (Eng. Eccl. Law) A vacant living or benefice commended to a cleric (usually a bishop) who enjoyed the revenue until a pastor was provided. A living so held was said to be held… …   The Collaborative International Dictionary of English

  • partnership in commendam — see partnership Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • in commendam — in com·men·dam /ˌin kə men dəm/ adj [New Latin, translation of French ( societé ) en commandité (company) in limited partnership] in the civil law of Louisiana: characterized by partnership liability that is limited to the amount of capital… …   Law dictionary

  • In commendam — In com*men dam [See {Commendam}.] (Law) See {Commendam}, and {Partnership in Commendam}, under {Partnership}. [1913 Webster] …   The Collaborative International Dictionary of English

  • in commendam — /in kamendam/ In commendation; as a commended living. See commenda. A term applied in Louisiana to a limited partnership, answering to the French en commandite …   Black's law dictionary

  • in commendam — /in kamendam/ In commendation; as a commended living. See commenda. A term applied in Louisiana to a limited partnership, answering to the French en commandite …   Black's law dictionary

  • partner in commendam — a partner in civil law whose liability to creditors of the partnership is restricted to the capital furnished or agreed to be furnished so long as he does not become active and who resembles a limited partner in common law …   Useful english dictionary

  • partner in commendam — A term of the Louisiana law for limited partner. Tatum v Acadian Production Corp. (DC La) 35 F 40. See limited partnership …   Ballentine's law dictionary

  • Commendam — Com*men dam, n. [LL. dare in commendam to give into trust.] (Eng. Eccl. Law) A vacant living or benefice commended to a cleric (usually a bishop) who enjoyed the revenue until a pastor was provided. A living so held was said to be held in… …   The Collaborative International Dictionary of English

  • partnership — part·ner·ship n: an association of two or more persons or entities that conduct a business for profit as co owners see also uniform partnership act in the important laws section compare corporation, joint venture, sole pro …   Law dictionary

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