The essential requisites of an ideal partnership are as follows: 1. A Written Agreement 2. Common Purpose 3. Long Duration 4. Good Faith 5. Sufficient Capital 6. Registration. Requisite # 1. A Written Agreement: In order to avoid any complications, disputes, misunderstanding, it is always desirable that there should be a written agreement among the partners. Agreement should contain full [...]
After reading this article you will learn about:- 1. Meaning of Partnership Deed 2. Contents of a Partnership Deed 3. Rules to be Followed in the Absence of a Partnership Deed. Meaning of Partnership Deed: The partnership comes in existence by an agreement. The agreement may be written or oral. But it is advisable that a Partnership Agreement or Partnership [...]
After reading this article you will learn about the rights and duties of partners. Rights of Partners: The rights of partners are given below: 1. Every partner has the right to participate in the conduct and management of the business. 2. Every partner has the right to have access to and to inspect and copy any of the books of [...]