a business partner who has no management authority and no personal liability
noun 1. a partnership formed by at least one general partner and at least one special partner.
- Limited-payment life insurance
[lim-i-tid-pey-muh nt] /ˈlɪm ɪ tɪdˈpeɪ mənt/ noun 1. a form of life insurance for which premiums are paid for a designated number of years.
noun, Insurance. 1. a policy that covers only certain types of losses within an area of risks.
- Limited-slip differential
[lim-i-tid-slip] /ˈlɪm ɪ tɪdˈslɪp/ noun 1. an automotive differential that can transfer power from a wheel that has lost traction to one that has not.