Nominal Partner Sample Clauses
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Nominal Partner. The partner only contributes his name to the formation of the business and nothirig more. Tha are normally people of substance in the society.
Nominal Partner. Nominal partner is partner just for namesake. He neither contributes to capital nor takes part in the affairs of business. Normally, the nominal partners are those who have good business connections, and are well places in the society.
Nominal Partner. Such a partner only gives his name and goodwill to the firm. He neither invests money nor takes profit. But his liability is unlimited. 5.