Anuj and Ahmed are partners in a firm. They admit John as a new partner, who is physically challenged. Anuj asked Ahmed and John to get the firm registered. But Ahmed and John didn't agree and said that the registration procedure will involve a lot of formalities
If you are Anuj, how will you convince them to get the firm registered?
Answers
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Dear mate,
If I am Anuj, I will convince them by telling them the benefits of registering the firm and disadvantages of non-registration.
Disadvantages of non-registration are listed below.
(a) The partners of a non-registered firm cannot file a suit against a third party; however, non-registration of a partnership firm does not prevent other firms from suing it.
(b) The firm cannot file a case against any of its partners. Similarly, a partner of a non-registered firm cannot file a case against his or her co-partners or the firm.
(c) A non-registered partnership firm cannot enforce its claims against a third party in a court.
Following are benefits of registration :
1. partners can sue the partnership firm.
2. partners can sue each other.
3. partners can sue the third party.