Partnerships - types of business organisations, Finance Basics

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Partnerships - Types of Business Organisations

Defination

"The relationship, that exists with persons carrying on a business in common by a view of profit."

Formation of a partnership

In writing Agreement.
Actions of the person related to
Orally
Via a deed that is an agreement under seal.

Note

In case the partners want to run their business under a name that does not disclose true surname of all partners, which a firm must be registered within the registration of Business Names Act.

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