Partnership law, Business Law and Ethics

Partnership Law

However section 3(1) of the Partnership Act characterize like partnership; such;

Therefore "The relation that subsists between persons carrying at a business into common about a view to profit" so.

Elements of the definition

  • It is an association of persons and one is
  • Whether there must be a "business" carried on.  However the term "business" has a wide meaning and then is not confined to commerce although covers solicitors, estate agents, accountants, etc. Like;
  • Whether the business must be carried at "in common".  Thus the partners should jointly participate in such the running of the business with a person may be like a sleeping partner.  Therefore this purpose for a partner is regarded like an agent of the other partners also.
  • However the business must be carried at "with a view to profit". Supplementary it is not necessary such a profit actually be made although the business is run about the object of making one.  Hence this provision excludes charitable organisations also.
Posted Date: 1/22/2013 5:49:11 AM | Location : United States







Related Discussions:- Partnership law, Assignment Help, Ask Question on Partnership law, Get Answer, Expert's Help, Partnership law Discussions

Write discussion on Partnership law
Your posts are moderated
Related Questions
Societies - Unincorporated Associations However these types of associations are registered under the Societies Act 1968.  Section 2(1) of the Act justify a society very broa

Writ System: Further a person intending to commence an action on common law had to acquire a 'writ' from the government department which was authorized to concern writs.  A wr

Define the types of interaction on which literature can be found There are two types of interaction on which literature can be found. These are interactions within the legisla

Different ways through which States create International law There are different ways through which States create International law. International conventions mentioned under a

Statutory Provisions in Applicable in the absence of a deed However it has been stated that the rights and relations of partners for one another are governed through the conte

WITH REFERENCE TO THE STANDARD FORM CONTRACT (in isolation) 1. Explain the legal issue that clause 1 of the standard form contract is addressing and what it is aiming to achiev

PUBLICATION: Whether in section 46(3) of the constitution states that like, upon a Bill that has been passed through the National Assembly being presented to the President for

Select a manufacturing organization and find out the ethical issues of the organization in the following areas: Production: Marketing & sales: Human Resources & employee relatio

STATE SUCCESSION International law regulating state succession deals with the situation where there is a change in sovereignty over a particular territory. State succession occ

Advantage of the information on the legislature The main result was that voters take advantage of the information on the legislature - executive trade-offs in policy process. W