There are two types of partners. General partner and silent partner also known as a sleeping partner, is one who shares in the profits and losses of the business, but is uninvolved in it's management, and/or whose association with the business is not publicly known. General partners may have joint liability or joint and individual liabilities depending upon various circumstances.
Regarding civil law, the partnership is a nominate contract between individuals who, in a spirit of cooperation, agree to carry on an enterprise, contribute to it, by combining property, knowledge or activities and to share its profit.
A silent partner is an investor who does not have any management responsibilities but offer capital and shares liability for any losses experienced by the enity. Silent partners are legally responsible for any losses up to the amount of their invested capital and participate in any tax and cash flow benfits.
Sources: Attorney Glen Lambert
Many question....NOT enough answers from Mayor Jimmy!
Oh yell, that's right Councilman Blevins all you got to do is "ask" the magic word is...please!
Source: Courier-journal 03/20/2007
Whatcha got to hide Jimmy?
Could it be you are one of the silent partner's?
We offer some solid advice to Councilman Blevins:
* Bring your inventory list
* Bring all your witnesses to council tonight
* Bring the snapshots enlarged to 8x10's
* Show the city emblems removed
* Show the painted over trucks
* Show the pictures of the upside down license plates
* Ask Mr. lee to name his silent partners
You better be dealing with the facts and IC Codes, and have the votes to call for an investigation.
If our memory has not failed us completely, did you not vote against the last 2 request for an investigation of our Mayor?
Could this be politically motivated?
Surely not!
"To see what is in front of one's nose needs a constant struggle"
-George Orwell
