what is sleeping partner

Dear Student,

A sleeping partner is a partner who one who does not take active part in the management of the business. He/she only contributes to the share capital of the firm, he/ she is bound by the activities of other partners, and shares the profits and losses of the business. A sleeping partner is also not required to give a public notice of his retirement. 

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Sleeping partner is a partner who does not participate in management ,his liability is also unlimited.He also does not inspect the books of accounts of company
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Sleeping partner is a partner who does not take part in management,his liability is unlimited.He also does not inspect books of accounts.
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A dormant partner ; one whose name does not appear in the firm, and who takes no active part in the business, but who has an interest in the concern, and shares the profits, and thereby becomes a partner, either absolutely, or as respects third persons. Law Dictionary: What is SLEEPING PARTNER? definition of SLEEPING PARTNER (Black's Law Dictionary)
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