Dormant or Sleeping Partner: He is a partner who is not known to third parties as such. He does not take active part in the conduct of business. He occupies the position of an undisclosed principal. Hence, third parties can sue him on discovering that he is a partner. While he has access to accounts and examine and verify them, he has not duties to perform. Hence no notice of his retirement to the public is necessary nor the firm is dissolved when he becomes insane.

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1 Comment
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