PARTNERSHIP Definition

Bookmark and Share

PARTNERSHIP is an unincorporated business that has more than one owner. It is different from a sole proprietorship in that a sole proprietorship can have only one owner.

Learn new Accounting Terms

COMFORT LETTERS see KEEP-WELL AGREEMENTS.

GROSS NEGLIGENCE is any action or an omission in reckless disregard of the consequences to the safety or property of another. Sometimes referred to as "very great negligence" and it is more then just neglect of ordinary care towards others or just inadvertence. Also known as the Latin term culpa lata.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.