Dormant Partners
A Dictionary of Law · Henry Campbell Black · 1891
A Dictionary of Law
Those whose names are not known or do not appear ag partners, but who nevertheless are silent partners, and partake of the profits, and thereby become partners, either absolutely to all intents and purposes, or at all events in respect to third parties. Dormant partners, in strictness of language, mean those who are merely passive in the firm, whether known or unknown, in contrudistinction to those who are active and conduct the business of the firm, as principals.
See Story, Partn. § 80.
A dormant partner is one who takes no part in the business, and whose connection with the business is unknown. Both secrecy and inactivity are implied by the word.
47 N. Y. 15.
Dormiunt aliquando leges, nunquam moriuntur.
2 Inst. 161.
The laws sometimes sleep, never die.