Note 9 — Chapter II
Reading edition
By the French commercial code, there are three descriptions of trading companies. First, sociétés en nom collectif, with all the attributes of an ordinary partnership in England; secondly, sociétés en commandite, where the great majority of the associated capitalists are sleeping partners, with no share in the management, no name in the firm, and responsible only to the extent of their registered capital, one or more of the partners, alone, having the conduct of the establishment, and being responsible to the public to the full extent of their property; and thirdly, the sociétés anonymes, which are, in every incident and particular analogous to the joint stock companies of England, only with a liability, limited in every instance to the amount of their shares.