A partner who contributes only his name to the formation of a partnership is
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Correct Answer: Option A
Explanation:
A nominal partner contributes his name and reputation to a partnership but may not contribute capital or take part in the day-to-day management of the business. The partner may nevertheless be liable to third parties who rely on the partnership representation.
A nominal partner contributes his name and reputation to a partnership but may not contribute capital or take part in the day-to-day management of the business. The partner may nevertheless be liable to third parties who rely on the partnership representation.