Where a limited partner exists in a partnership

In a limited partnership, there are two types of partners: limited partners and general partners. The limited partner is a partner who contributes capital to the partnership but does not participate in the day-to-day management of the partnership. This means that the limited partner has limited liability and is not responsible for the debts and obligations of the partnership beyond the amount of their capital contribution. On the other hand, the general partner is responsible for managing the partnership and has unlimited liability. Therefore, the presence of a limited partner does not affect the requirement for at least one ordinary partner to manage the partnership.