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Senate. Select Comm. on Partnership. Act relative to partnership, 1832
SEE ALSO 52319 Senate No. 21 On February 16, 1832, a Select Committee on Partnership, three men, submitted a new draft of An Act relative to
partnership, 1832. Limited partnerships could be formed by two or more persons, but not for the business of banking, insurance or manufacturing using steam
or water power. General partners would be liable for all expenses of the enterprise; special partners would only be liable for the amount they had
put in. Special partners had no standing to manage the affairs of the partnership. The act contained directions for the form of the partnership
document filed with the local Register of Deeds. Any partner guilty of fraud was liable for damages and also for criminal prosecution. No partnership
could close without several weeks notice. (Digitized from a microfilm copy of title originally held by the Massachusetts State Library).
Title:   The special committee, to whom was referred an act relating to partnerships, have attended to the duty as signed them, and report the same as taken into a new draft.
OCLC Number:   1391638161
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