Partnership Act - 17725 Words

IBS Gurgaon A PROJECT REPORT ON The Partnership Act 1932 amp; Its Registration. SUBMITTED ON:- SUBMITTED TO:- 9TH January,2012 PROF. UPDESH SINGH SACHDEVA MONDAY. BY:- ABHISHEK ANAND. 11BSP0010 SECTION- â€Å"A† TABLE OF CONTENTS. TOPIC PAGE NO 1. Acknowledgement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 2. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... 4 3. Defination of Partnership Firm†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 4. Features of†¦show more content†¦Partners may have a Partnership agreement, or declaration of partnership and in some jurisdictions such agreements may be registered and available for public inspection. In many countries, a partnership is also considered to be a legal entity, although different legal systems reach different conclusions on this point. FEATURES OF PARTNERSHIP * Two or more Members :- You know that the members of the partnership firm are called partners. But do you know how many persons are required to form a partnership firm? At least two members are required to start a partnership business. But the number of members should not exceed 10 in case of banking business and 20 in case of other business. If the number of members exceeds this maximum limit then that business cannot be termed as partnership business. A new form of business will be formed, the details of which you will learn in your next lesson. * Agreement:- Whenever you think of joining hands with others to start a partnership business, first of all, there must be an agreement between all of you. This agreement contain so the amount of capital contributed by each partner; * profit or loss sharing ratio; * salary or commission payable to the partner, if any; * duration of business, if any ; * name and address of the partners and the firm; * duties and powers of each partn er; * nature and place of business; * any other terms and conditions to run the business. *Show MoreRelatedThe Long History Of Partnership Act934 Words   |  4 PagesPartnerships have been in existence since people could trade or do business. The long history of partnership spans through the Medieval times in Europe and in the Middle East and lasted through the commercial revolution. Partnerships were formed to mutually strengthen the involved parties. They were set up to save time, money and to share knowledge and expertise. This practice of joining forces in reciprocal services became a distinctive feature, and a long-lasting success factor in the businessRead MoreThe Limited Partnership Act 2008 Essay2567 Words   |  11 PagesThe Limited Partnership Act 2008 came into force on 2nd May 2008 enabling registration of limited Partnership and Overseas Limited Partnership. The primary function objective for the introduction of the Limited Partnerships regime is to facilitate sustai nable growth in New Zealand’s venture capital and private equity Industries. This introduction of internationally recognized Limited Partnership opens the gate way for foreign capital investment which helps the company in their initially setup startRead MoreLaws of Malaysia Reprint Act 135 Partnership Act 19613301 Words   |  14 PagesMALAYSIA Act 135 PARTNERSHIP ACT 1961 ARRANGEMENT OF SECTIONS PART I PRELIMINARY Section 1. Short title 2. Interpretation PART II NATURE OF PARTNERSHIP 3. Definition of partnership 4. 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There was a more liberal and equal drift away from the old conservatisms, allowed for homosexuals to rely on the law to protect them from prejudice and discrimination that they still faced despite the change in the law. The Sexual Offences Amendment Act 2000 equalised the age of consent for homosexual sex with that for heterosexual sex: 16 years of age. In the caseRead MoreThe Uk Civil Partnership Act 20041670 Words   |  7 Pagesintroduction of the article involves analysis of various literature and researches on the policies and laws that govern lesbian and gay equality. The mention of the different definitions and arguments pave the way for the introduction of the UK Civil Partnership Act 2004 (Taylor 589). According to the introduction part of the reading, same-sex legal recognition has always revolved around two specific positions that are framing the lesbian law towards equality or view acknowledgment as an accommodation toRead MoreForeign Partnership Act Case Study1269 Words   |  6 PagesAfter a thorough examination of the Foreign Corrupt Practices Act of 1977, as amended, 15 U.S.C  §Ã‚ §78dd-1 (FCPA) and the United Kingdom’s Bribery Act of 2010. It is recommended that The Phon e and Build pay the $1000 expedited service fee to hear the results of the bid before its made public. This determination supersedes the Growastan’s deputy minister of communications other three offers that included paying him $100,000, giving him a Maserati, or donating $100,000 to his son’s political campaignRead MoreThe Gathering Place : A Refuge For Rebuilding Lives1216 Words   |  5 Pagesto choose a different name for her new business. Partnership After spiritually and legally examining Marvin, Kelsey, and Carlos, I would advise Mrs. Jackson to include Marvin in her business as a partner in her LLC. Since Marvin is Mrs. Jackson’s husband the Scriptures and the legal understanding of the fiduciary relationship within partnership affirms this choice. From a biblical standpoint the Scriptures endorse the importance of partnership by stating, â€Å"Two are better than one, because theyRead More1) Dissolution of a Partnership Firm. 2) Forms of Partnership Under Islamic Law.1286 Words   |  6 PagesDissolution of a Partnership Firm. 2) Forms of partnership under Islamic Law. Submitted To: Sir. Usman Arshad Submitted By: Muhammad Hashaam Khalid BBA-12-043 Date: 26 November,2012 Sub-campus (Bhakkar) â€Æ' â€Æ' Dissolution of a partnership Firm: Dissolution of a partnership firm means the ending of contractual relationship b/w all the partners. It means the closing of partnership business. According to partnership act: â€Å" if there is dissolution of partnership among allRead MoreRelationship Between Private And Private Law1644 Words   |  7 Pages Question 1 Partnership agreements are essential when entering into business with another entity. It is a contract between the partners (2 – 20 persons) although, ‘there are no legal formalities’ connected to the formation of a partnership . To ensure all for a fair working environment, private law is enforced outlining the rights a person is able to. The agreement further states legal consequences including mutual liability. All partners therefore are accountable for the actions of the other partners