Before discussing further the powers of partners, it will be well to give the technical names by which they are known according to their position in or relation to the partnership. Members may be active or non-active, that is, taking a hand in the management of the business or not; ostensible or non-ostensible, that is, known or unknown to the public as members; and one who has no actual interest in the partnership may lend his name to the firm for the purpose of adding to its credit or standing. Such a person is called a nominal partner, and his liabilities to those without knowledge of the actual situation are the same as those of a real partner. A dormant, that is, sleeping partner, has an interest in the partnership and its profits, but is non-active and non-ostensible; secret and dormant are distinguished from the fact that a secret partner, though not appearing to the public as a partner, takes a regular hand in the conduct of the business by counsel or otherwise; he is awake in a back room; an ostensible partner who takes no active part in the business is often called a silent partner, the word ostensible being restricted to an active as well as known partner. A managing partner is one who is held out as the general business agent of the firm, nevertheless his powers must be assumed to be restricted to the general scope of the business; a new partner taken into the firm is called an incoming partner; and one who withdraws is called the retiring partner; on the withdrawal of one or more members if the business is continued by the others as a new firm, the latter are called continuing partners. On dissolution, all and each of the partners, while without right to make new contracts, revive debts outlawed, or issue negotiable paper, have the right to complete old contracts, dispose of the property, and wind up the business; this duty, however, usually devolves by agreement on some one of the partners who is then called a liquidating partner. In case of dissolution by death of one of the partners, the others are called surviving partners, and the title to the personal property vests in them with the same duties as a liquidating partner. By agreement with all those interested in the estate the surviving partners may purchase the interest of the deceased partner, and frequently by the original articles of co-partnership, there is a provision for such purchase and for a determination of the method of valuation, a thing of evident precautionary value for the avoidance of friction. In limited partnerships created under statute law, the active partners, who are liable as common law partners, are called general partners, and those who are simply financially interested to the amount of their capital invested are called special partners.