Question

26.Mannan and Ketan decide to start a partnership business of manufacturing
computer key boards.manis of a view that they should have a written
agreement and they should also register their partnership firm.However,
Ketan wants to have verbal agreement.Mannan explained the
consequences of non registration to Ketan,after which captain agreed it.
state the consequence so for registration of a firm which were explained by
Mannan to Ketan.

Answer 1

Answer:

Well registration of partnership firm is not mandatory under partnership act of 1932 but partners often do it to avoid future conflicts.

Explanation:

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Answer 2

Answer:

A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability.

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