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
Family and Medical Leave Act: There is a split among the federal circuit courts of appeal on whether or not public employees/officials may be considered "employers" and theref

Q. Exercising international rights and duties? Laws are the finest creation of human mind. They are intended not only to regulate our conduct and therefore our lives, but they

Question 1: (a) According to Archie Carroll what are the four interrelated aspects of corporate social responsibility? Use examples from the Mauritian context to illustrate you

Power to dispense with the word "Limited":                             Although s.5 provides that the last word of the name of a limited company must be "limited" this would n

Problem I. Sandy has been working for Bean Canning Ltd for 9 years. Last Monday Sandy was called to the Manager's Office and verbally informed that her employment was termi

American Courts, though vested with considerable Constitutional authority, are limited in power by the other branches of the government, the States to some extent, and the people.

Functions of Attorney general Whereas under sec 26(2) the Attorney General is the principal legal adviser for government of US And whereas he occupies a ministeria

Advocates Whether in sec 3(1) of the Interpretation and General Provisions Act cap 2 and sec 2 of the Advocates Act (1989) an advocate is a person that whose name has been dul

Define the principle of prescription Prescription   (res  nullius-an  asset susceptible of acquisition but presently under the ownership or sovereignty of no legal person). Pr

Contracts in Restraint of Trade This is a contract through which a person voluntarily or unwillingly restricts his future liberty to carry at his trader business or profession