Obligations of a limited partner
- Not to take part in the management of the firms business.
- Not to compete with the firm.
- Disclose any personal interest to avoid conflict of interest.
- Not to withdraw or receive back his share during the currency of the firm.
Rights of a limited partner
- To inspect the firms books of accounts.
- To assign his share to another person.
- To receive his share of profit.
- Right not to be compelled to contribute to the assets of the company.
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