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LSDefine

Simple English definitions for legal terms

dormant partner

Read a random definition: Gazette

A quick definition of dormant partner:

A dormant partner is a type of partner in a business who shares in the profits but does not actively participate in managing the business. They may not be publicly known and may not be involved in decision-making. However, they are still responsible for any debts the business incurs. Think of it like being a silent investor in a lemonade stand - you get a share of the profits, but you don't help make the lemonade or sell it.

A more thorough explanation:

A dormant partner is a type of partner in a business who shares in the profits but does not actively participate in the management of the business. They are also known as a silent partner.

John and Jane start a restaurant business together. John is the chef and manages the day-to-day operations, while Jane invests money into the business but does not participate in the management. Jane is a dormant partner in the business.

This example illustrates how a dormant partner contributes financially to a business but does not have an active role in running it.

dormant legislative intent | dormant title

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awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
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