Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: May 6, 2025
Towards this end, let the operatives everywhere meet to consider this question, so important to their interests; and, as we believe they will generally see the propriety of furthering a law to establish commandite partnerships, let them petition the House of Commons accordingly.
If we follow out the doctrine, we soon find that it ends in an absorption of property, not by the community, but by a general and indissoluble commandite, so that the condition of the proprietor would differ from that of the workingman only in receiving larger wages. This system, with some peculiar additions and embellishments, is the idea of the phalanstery.
Possibly these paragraphs will not be clear to all without the explanation that the form of association discussed in them, called in French the commandite, is a joint-stock company to which the shareholders simply lend their capital, without acquiring a share in the management or incurring responsibility for the results thereof. Translator.
The subscribers with limited responsibility, or commanditaires, as they are called, are not cut off from all control over the management of their funds: it is their own fault if they join a commandite company where they are not allowed to inspect the books, and check rashness or extravagance.
In France, America, and many other countries, there is a system of partnership, with limited responsibility, known by the name of 'Partnership in Commandite. Even with us, limited responsibility is by no means unknown.
A short time ago, we adverted to the vast benefits that would accrue to the working-classes, by legalising partnerships in commandite; for this would allow the clubbing of means for trading purposes without chance of total loss.
But as soon as the proprietor becomes a producer, since he can exchange his special product only with his tenant or his commandite, sooner or later this tenant, this exploited man, if violence is not done him, will make a profit out of the proprietor, and will oblige him to restore in the exchange of their respective products the interest on his capital.
The tenant, the farmer, the commandite', the usufructuary, are possessors; the owner who lets and lends for use, the heir who is to come into possession on the death of a usufructuary, are proprietors. If I may venture the comparison: a lover is a possessor, a husband is a proprietor.
In the commandite partnerships, however, the restriction of liability does not apply to all the shareholders, as in the case of our great joint-stock companies. Full responsibility alights only on those partners who take it upon them, who have an interest in the profits measured by their responsibility, and who are known to the world to be so responsible.
Numbers of persons in France place their money on hypothèque, or mortgage, by which they make 5 per cent; the affair is arranged by means of a notaire, but often the most lucrative manner of placing money is what is called en commandite, that is, they invest a fixed sum in different descriptions of business, from which they receive a certain share, not appearing in the concern otherwise than having deposited a stated amount of money in it, for which alone, in case of bankruptcy, they are liable.
Word Of The Day
Others Looking