What is the role of the general partner of a private partnership?
Alberta, Canada
The following excerpt is from Marigold Holdings Ltd. v. Norem Construction Ltd., 1988 CanLII 3490 (AB QB):
The general partner is the trustee of the properties of the partnership on behalf of all other partners (see Molchan v. Omega Oil & Gas Ltd., 1988 CanLII 103 (SCC), [1988] 1 S.C.R. 348, 57 Alta. L.R. (2d) 193, [1988] 3 W.W.R 1, 87 A.R. 81, 83 N.R. 25).
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