Partnership is a business relationship between two or more persons who agree to share the profits or losses of the business. Key features include an agreement to conduct business together and share profits/losses, unlimited liability of the partners, and flexibility to divide responsibilities. A partnership deed is a written agreement that outlines terms like capital contributions, profit/loss sharing ratios, partner roles, and dissolution procedures. The advantages of a partnership include easier formation, larger capital availability, flexibility, and quick decision making. However, partnerships also have disadvantages like potential lack of harmony between partners, instability risk with partner changes, and limited growth potential compared to other business structures.
Indian Partnership Act 1932 Provisions, Practical Aspect, Summary for business students, Background & History, Essentials of Partnership, Real Test for Partnership, Types of Partners, Kinds of Partners, Partnership Deed, Contents of Partnership Deed, Advantages of Partnership Firm, Disadvantages of Partnership Firm.
Types of Partners, Partnership Merits and Demerits, Partner by Holding out, Parter by estoppel, Registration of Partnership, The difference between a sole proprietorship and Partnership, features of Partnership act 1932, Mutual consent of Partners, Mutual agency
Relations of partners, Authority of partner, Liability of partner,
Rights of partner, Duties of partner, Partner by holding out or estoppel, Minor admitted as a partner, Reconstitution of a firm, Rights of an outgoing partner.
Law of partnership, characterstics of partnership, kinds of partnership and t...FAST NUCES
The presentation is about the law of partnership and its lawful definition. it also proves information about the characteristics of partnership. Moreover, it also contains the test of partners in a partnership. it also has ideal partnership and kinds of partnership.
Indian Partnership Act 1932 Provisions, Practical Aspect, Summary for business students, Background & History, Essentials of Partnership, Real Test for Partnership, Types of Partners, Kinds of Partners, Partnership Deed, Contents of Partnership Deed, Advantages of Partnership Firm, Disadvantages of Partnership Firm.
Types of Partners, Partnership Merits and Demerits, Partner by Holding out, Parter by estoppel, Registration of Partnership, The difference between a sole proprietorship and Partnership, features of Partnership act 1932, Mutual consent of Partners, Mutual agency
Relations of partners, Authority of partner, Liability of partner,
Rights of partner, Duties of partner, Partner by holding out or estoppel, Minor admitted as a partner, Reconstitution of a firm, Rights of an outgoing partner.
Law of partnership, characterstics of partnership, kinds of partnership and t...FAST NUCES
The presentation is about the law of partnership and its lawful definition. it also proves information about the characteristics of partnership. Moreover, it also contains the test of partners in a partnership. it also has ideal partnership and kinds of partnership.
The Indian Partnership Act was enacted in 1932 and it came into force on 1st day of October, 1932[1]. The present Act superseded the earlier law relating to Partnership, which was contained in Chapter XI of the Indian Contract Act,1872. The Act is not exhaustive. It purports to define and amend the law relating to Partnership.
Articles of partnership is a voluntary contract between two or among more than two persons to place their capital, labor, and skills, and corporation in business with the understanding that there will be a sharing of the profits and losses between/among partners. A partnership agreement is the written and legal agreement between business partners. It is always recommended but not essential for partners to have such an agreement.
hi people!!! this is my first presentation hope u like it n might help u for ur further studies and good step for ur future!!!!! I'm pretty much sure u'll like it and if u find interesting plz comment or give a like. your like means a lot...!!!!!! :)
The Indian Partnership Act was enacted in 1932 and it came into force on 1st day of October, 1932[1]. The present Act superseded the earlier law relating to Partnership, which was contained in Chapter XI of the Indian Contract Act,1872. The Act is not exhaustive. It purports to define and amend the law relating to Partnership.
Articles of partnership is a voluntary contract between two or among more than two persons to place their capital, labor, and skills, and corporation in business with the understanding that there will be a sharing of the profits and losses between/among partners. A partnership agreement is the written and legal agreement between business partners. It is always recommended but not essential for partners to have such an agreement.
hi people!!! this is my first presentation hope u like it n might help u for ur further studies and good step for ur future!!!!! I'm pretty much sure u'll like it and if u find interesting plz comment or give a like. your like means a lot...!!!!!! :)
Intermediate Accounting is also known in other universities and other programmes like Bachelor of Business Administration and Bachelor of Science in Accounting as Accounting II.Intermediate Accounting is done by students of Bachelor of Commerce of Makerere University.
BUSINESS UNITS
Definition
Is an organization or firm that deals in the production or distribution of commodities usually for the purpose of making profit. It may be set up by an individual or group of individuals and its size depends on the amount of capital invested.
FORMS OF BUSINESS UNIT
(i) Public sector
(ii) Private sector
PUBLIC SECTOR
The public sectors comprise of business organization owned by the government. The sector consist of the following;
Public cooperation
Public companies
Local government authorities
Parastatals
PRIVATE SECTOR
The private sectors comprise of business organization owned by private individuals. The sector consist of the
Detailed PPT on " Partnership act,1932" with all types,advantages,disadvantages, all important acts and position of Minor 's along with all required diagrams.
Introduction
Concepts of technical analysis
Principles of technical analysis
Techniques of technical analysis
Daily Volumes of transactions
Floating Stock
Price Trends
Rate of change Method (ROC)
Japanese Candle Stick Method
Dow Theory
Elliot Wave Theory
Advance and Decline Lines Method
Relative Strength Index
An investor is a person who allocates capital with the expectation of a future financial return. Types of investment include : equity , debt securities , real estates, currency , and commodity , derivatives such as put and call options, etc,
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)
18 Partnership
1. Managerial Economics & Financial Analysis
1| Mohammad Imran
PARTNERSHIP
Introduction
Partnership is an improved from of sole trader in certain respects. Where there are like-minded
persons with resources, they can come together to do the business and share the profits/losses of the
business in an agreed ratio. Persons who have entered into such an agreement are individually called
‘partners’ and collectively called ‘firm’. The relationship among partners is called a partnership. Indian
Partnership Act, 1932 defines partnership as the relationship between two or more persons who agree
to share the profits of the business carried on by all or any one of them acting for all.
Features :
1. Relationship:Partnershipis a relationship amongpersons. It is relationshipresultingout of an
agreement.
2. Two or more persons: There shouldbe two or more numberof persons.
3. There shouldbe a business:Business shouldbe conducted.
4. Agreement: Personsshouldagree to share the profits/losses of the business
5. Carried on by all or any one of them actingfor all: The businesscan be carried on by allor any one of
the personsacting for all. This means that the businesscan be carried on by one personwho is the
agent for all otherpersons. Every partneris both an agent and a principal. Agent for other partnersand
principal for himself. Allthe partnersare agentsand the ‘partnership’is their principal.
The following are the other features:
(a) Unlimited liability: The liability of the partnersis unlimited. The partnershipandpartners,in the eye
of law, and not different but one and the same. Hence, the partnershaveto bring their personalassets
to clear the losses of the firm, if any.
(b) Number of partners: According to the Indian PartnershipAct, the minimum number of partners
shouldbe two and the maximum numberif restricted, as given below: 10 partnersis case of banking
business 20 in case of non-bankingbusiness
(c) Division of labour: Because there are more thantwo persons, the work can be divided amongthe
partnersbased on their aptitude.
(d) Personal contact withcustomers: The partnerscan continuouslybe in touch with the customersto
monitor their requirements.
(e) Flexibility: Allthe partnersare likeminded personsand hence they can take any decision relatingto
business.
Partnership Deed
The written agreement amongthe partnersis called ‘the partnershipdeed’. It contains the terms and
conditions governing the working of partnership.The following are contentsof the partnership
deed.
1. Names and addressesof the firm and partners
2. Natureof the business proposed
3. Duration
4. Amountof capital of the partnershipand the ratio for contributionby each of the partners.
5. Their profit sharingration (this is usedfor sharinglosses also)
2. Managerial Economics & Financial Analysis
2| Mohammad Imran
6. Rate of interest chargedon capital contributed,loanstaken from the partnershipand the
amountsdrawn, if any, by the partnersfrom their respective capital balances.
7. The amountof salaryor commission payable to any partner
8. Procedure to valuegood will of the firm at the time of admission of a new partner,retirement of
death of a partner
9. Allocation of responsibilities of the partnersin the firm
10. Procedure for dissolutionof the firm
11. Name of the arbitratorto whom the disputes, if any, can be referred to for settlement.
12. Special rights,obligations and liabilities of partners(s),if any.
KIND OF PARTNERS
1. Active Partner: Active partnertakes active part in the affairs of the partnership.He is also called
working partner.
2. Sleeping Partner: Sleeping partnercontributesto capital butdoes not take part in the affairs of the
partnership.
3. Nominal Partner: Nominal partneris partnerjust for namesake. He neither contributesto capital nor
takes partin the affairs of business.Normally, the nominal partnersare those who have good business
connections, and are well places in the society.
4. Partner by Estoppels: Estoppels means behavioror conduct.Partnerby estoppels gives an
impression to outsidersthathe is the partner in the firm. In fact be neither contributesto capital, nor
takes any role in the affairs of the partnership.
5. Partner by holding out: If partnersdeclare a particularperson (havingsocial status) as partnerand
this person does not contradicteven after he comes to know such declaration, he is called a partnerby
holdingout and he is liable for the claims of third parties. However, the third parties shouldprove they
entered into contract with the firm in the belief thathe is the partner of the firm. Such a person is called
partnerby holdingout.
6. Minor Partner: Minor has a special statusin the partnership.A minor can be admitted for the
benefits of the firm. A minor is entitled to his shareof profits of the firm. The liability of a minor partner
is limited to the extent of his contribution of the capital of the firm.
Right of partners
Every partner has right
(a) To take part in the managementof business
(b) To express his opinion
(c) Of access to andinspect and copy andbook of accounts of the firm
(d) To share equally the profits of the firm in the absence of any specific agreement to the contrary
(e) To receive interest on capital at an agreed rate of interest from the profits of the firm
(f) To receive interest on loans,if any, extended to the firm.
(g)To be indemnified for any loss incurred by him in the conduct of the business
(h)To receive any money spent by him in the ordinary and proper conduct of the businessof the firm.
Advantages
The following are the advantagesof the partnershipfrom:
3. Managerial Economics & Financial Analysis
3| Mohammad Imran
1. Easy to form: Once there is a groupof like-minded personsand good businessproposal,it is
easy to startand register a partnership.
2. Availability of larger amount of capital: More amountof capital can be raised from more
number of partners.
3. Division of labour: The different partnerscome with varied backgroundsandskills.This facilities
division of labour.
4. Flexibility: The partnersare free to change their decisions, add or drop a particularproduct or
starta new business or close the present one and so on.
5. Personal contact with customers: There is scope to keep close monitoring with customers
requirements by keeping one of the partnersin chargeof sales and marketing. Necessary
changescan be initiated based on the merits of the proposalsfrom the customers.
6. Quick decisionsand prompt action: If there is consensusamongpartners,it is enoughto
implement any decision and initiate prompt action. Sometimes, it may more time for the
partnerson strategic issues to reach consensus.
7. The positive impact of unlimited liability: Every partneris always alertabout his impending
dangerof unlimited liability. Hence he tries to do his best to bring profits for the partnership
firm by making good use of allhis contacts.
Disadvantages:
The following are the disadvantagesof partnership:
1. Formation of partnership is difficult: Only like-minded personscan starta partnership.It is
sarcastically said,’ it is easy to find a life partner,but nota businesspartner’.
2. Liability: The partnershave joint and severalliabilities beside unlimited liability. Joint and several
liability puts additionalburden on the partners,which means thateven the personal properties
of the partneror partnerscan be attached. Even when all but one partnerbecome insolvent,the
solventpartnerhas to bear the entire burdenof businessloss.
3. Lack of harmony or cohesiveness: It is likely that partnersmay not, most often work as a group
with cohesiveness. This resultin mutualconflicts, an attitude of suspicion and crisis of
confidence. Lack of harmony resultsin delay in decisions and paralyses the entire operations.
4. Limited growth: The resources when compared to sole trader,a partnership may raise little
more. But when compare to the otherforms suchas a company, resources raised in this form of
organization are limited. Added to this, there is a restriction on the maximum number of
partners.
5. Instability: The partnershipform is knownfor its instability. The firm may be dissolved on death,
insolvency or insanity of any of the partners.
6. Lack of Public confidence: Public and even the financial institutions lookat the unregisteredfirm
with a suspicious eye. Thoughregistration of the firm underthe Indian PartnershipAct is a
solutionof such problem, this cannotrevive public confidence into this form of organization
overnight.The partnershipcan create confidence in other only with their performance.