After reading this article you will learn about:- 1. Meaning of Joint Hindu Family Business 2. Characteristics of a Joint Hindu Family Business 3. Advantages 4. Disadvantages. Meaning of Joint Hindu Family Business: The Joint Hindu Family Business is a distinct form of organisation peculiar to India. Joint Hindu Family Firm is created by the operation of law. It does [...]
After reading this article you will learn about:- 1. Meaning and Definition of Partnership 2. Need of Partnership 3. Characteristics or Features or Elements. Meaning and Definition of Partnership: Partnership is an association of two or more persons who agree to carry on a lawful business in common with the object of sharing in partnership. The partners provide the capital [...]
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 [...]