Tag Archives | Partnership

Different Kinds of Partner | Business Management

There are different kinds of partners and they may be classified in the following manner: 1. Active Partner 2. Sleeping or Dormant Partner 3. Nominal Partner 4. Partner in Profits Only 5. Minor as a Partner 6. Incoming Partner 7. Outgoing Partner 8. Partner by Estoppel or Holding Out. Kind # 1. Active Partner: A partner who is actively engaged [...]

By |2017-02-06T21:14:28+05:30February 6, 2017|Partnership|Comments Off on Different Kinds of Partner | Business Management

Position of Minor as a Partner | Business Management

The position of minor partner may be studied under the following two heads: 1. Position before Attaining Majority 2. Position on Attaining Majority. 1. Position before Attaining Majority: (i) Every minor partner has a right to such share of the property and of profits of the firm as may have been agreed upon. (ii) Every minor partner has a right [...]

By |2017-02-06T21:14:28+05:30February 6, 2017|Partnership|Comments Off on Position of Minor as a Partner | Business Management

Rights and Duties of Partners | Business Management

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 [...]

By |2017-02-06T21:14:28+05:30February 6, 2017|Partnership|Comments Off on Rights and Duties of Partners | Business Management
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