Partnerships, Business Law and Ethics

Partnerships:

               A partnership is defined by s.3(1) of the Partnership Act   as "the relation which subsists between persons carrying on a business in common with a view of profit". This is a definition of the relation that exists between the  individual persons who are trading as partners, rather than a definition of the apparent entity called a partnership. A partnership is not a body corporate and, being legally non-existent, cannot carry on a business. Section 6 of the Act states that persons who have entered into partnership with one another, are called collectively a firm, and the name under which their business is carried on is called the firm-name.

Posted Date: 1/12/2013 2:12:29 AM | Location : United States







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

Write discussion on Partnerships
Your posts are moderated
Related Questions
Presumptions: Therefore in their attempt to construe statutes that courts of law are guided through the subsequent assumptions or presumptions.; (a)   That the statute was

Loans to Directors: Section 191(1) renders unlawful any loan made by a company to a director of the company or its holding company. It is also unlawful for the company to guar

Define the subordinate legislation briefly. Subordinate legislation: • Regulations: It directly applicable and self-executing, no require for member state to create own

State Preamble of the United Nations Charter 'We the Peoples of the United Nations determined to save succeeding generations from the scourge of war...and to reaffirm faith in fu

Removal of Directors: By s.185(1) a company may by ordinary resolution remove a director before the expiration of his period of office, but notwithstanding anything in the art

Provisional Contracts - Law of Contract However occasionally an agreement may be illustrated through the parties thereto as being as "a provisional agreement" until a legally

Service of Notice: Section 134 (a) provides that, unless the articles of the company make other provision in that behalf, notice of the meeting of a company shall be served on

Define the term - social attainment and economic growth Many problems can also be seen either as private problem for those who experience them or as public policy failures that

Description of terrorism UNSC has successfully come up with laws to deal with terrorism and with the help of the theory of self determination, use of force and IHL, tried to re

Part A Approach a small business owner and find out the following: a. What is the legal structure of their business? - Discretionary trust legal structure for an Accounti