Can a limited partner do orders for the business? i know they cannot manage it, but are they the same?

simple question: can a limited partner be involved with ordering products for the business?


Asked 7 months ago in Nakusp, British Columbia
Categories: Business Law

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Shira Kalfa

Answer by Shira Kalfa

Not VerifiedOntario lawyer

This entirely depends on the terms of the General Partnership-Limited Partnership Agreement (GP-LP Agreement). The answer to this question does not lie in the governing legislation but rather, in the four corners of the agreement. Typically, it is General Partners who has decision making authority and control, however it is possible that this authority is given to the limited partners under the terms of the agreement.

Posted 7 months ago

Shira Kalfa is a founding partner of Kalfa Law, a business & tax law firm in Toronto. As the lead solicitor at Kalfa Law, Shiras' practice is focused on:

Corporate law including incorporation, joint ventures, partnership agreements, shareholder agreements and corporate restructuring
• Commercial law including asset and share purchase and sale transactions, contract drafting and review and financing
Tax law & tax planning 
Learn more about Kalfa Law here
Call Shira at: 416-631-7227
Email Shira at: reception@kalfalaw.com

Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Shira Kalfa, or search the Lawyer Directory.

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