Illegal partnerships - number of partners, Business Law and Ethics

Illegal Partnerships - Number of Partners

However a partnership will be illegal in the following state of affairs: like;;

(a)   Whether it is formed for an illegal purpose that likes a purpose whether is contrary to public policy. And one is

(b)   Whether it consists of more than 20 members.

Through virtue of Section 389 of the Companies Act since never association consisting of more than twenty persons shall be like formed for the purpose of carrying upon a business regarding a view to profit unless it is registered as a company below the Act, or is formed in pursuance of various other Act of Parliament or may of letters patent. Therefore the effects of a breach of this provision then read Fort Hall Bakery Supply Co. v. Wangoe also.

Posted Date: 1/22/2013 5:56:35 AM | Location : United States







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