Nominal Partner definition
Nominal Partner. A person who lends his name to the firm, without having any real interest in it, is called a nominal partner. Partner in profits only: A partner who is entitled to share the profits only without being liable for the losses is known as the partner for profits only and also liable to the third parties for all acts of the profits only. Partner by holding out (Section 28 of the Indian Partnership Act, 1932): Partnership by holding out is also known as partnership by estoppel. Where a man holds himself out as a partner, or allows others to do it, he is then stopped from
Examples of Nominal Partner in a sentence
By: By: Name: Name: Title: Title: Date: Date: Execution Copy SALES SUPPORT AND COMPENSATION Category 1 – Exclusive Qualified Project Referral for Joint Solution [*] [ *]% Category 2 – Exclusive Qualified Project Referral for Independent TIBCO Solution [*] [ *]% Category 3 – Exclusive Qualified Project Referral – Nominal Partner Involvement [*] [ *]% Category 4 – Incidental Partner Support [*] [ *]% * Certain information on this page has been omitted and filed separately with the Commission.
Nominal Partner Involvement Partner refers a Qualified Project (as defined in Category 2) solely and exclusively to TIBCO.