Limited Partnership through the Mauritanian Commercial Code

الملخص

The general partnership is considered one of the oldest commercial entities based on the personal liability of the partners, and the latter is distinguished by characteristics that set it apart from other companies, namely that the general partners are jointly and severally liable for the company’s debts with all their assets, unlike the limited partners; and the limited partner does not acquire the status of a merchant, unlike the general partner; and the limited partners’ liability is limited to the amount of their shares,  A simple limited partnership is subject, in terms of its establishment, to all general and specific substantive conditions as well as formal requirements; the partnership agreement must be drawn up in a formal manner and registered as is customary for all companies. In its management, a simple limited partnership is generally subject to the general provisions, with the legal status of the two categories of partners differing, which necessarily affects its management and operation; the Mauritanian legislature has authorized each general partner to manage the company.

A limited partnership is dissolved for the same reasons as general companies, as well as for specific reasons related to personal considerations, given that it is a partnership of persons. When a limited partnership is dissolved for the reasons mentioned above, this results in significant consequences, namely liquidation and distribution.