A dormant partner is one who

Assessment: WAEC SSCE - Commerce - 2006 (Objective) Subject: Commerce

Question 1 Report

A dormant partner is one who
Answer Details
A dormant partner is someone who has invested in a business but does not participate in running the day-to-day operations of the business. They have limited liability, which means that their personal assets are protected in case the business incurs losses or debts. However, being a dormant partner does not necessarily mean that they do not work hard or have only lent their name to the business. It simply means that they do not actively manage or participate in the business's operations.
Read lesson note on Legal Aspects Of Business (JAMB)
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