A partner whose only contribution to the partnership is his name and goodwill is
Answer Details
A partner whose only contribution to the partnership is his name and goodwill is known as a nominal partner or a sleeping partner. A nominal partner does not actively participate in the management of the partnership business, but their name and reputation are used to help attract customers and increase the credibility of the business. The nominal partner may receive a share of the profits, but they do not have any control over the day-to-day operations or financial decisions of the business. This type of partnership arrangement is different from an active partner, who is involved in the management and decision-making of the business, and a limited partner, who provides financial contributions to the partnership but does not participate in the management.