Question

Nitin was a friend of Rohan and also a well-established businessman in Bangalore. On one fine morning, Rohan approached Nitin and ask for some financial help to carry on the business affairs properly in this unforeseen situation of Covid 19 pandemic. Nitin not only helped him with the funds but also introduce him to his established business party named Sunil. On the confirmation of Nitin that Rohan has all rights to use Nitin's name in his business, Sunil gave an order of Rs. 5,00,000/- to Rohan. Later on, Rohan suffered losses and was unable to fulfil his commitment toward the Sunil. Sunil approached Nitin for compensating his losses, which Nitin is liable to pay as a specific partner.

A. Name and explain the type of partner applicable for Nitin in the above-mentioned case.
B. Explain four other types of partner which is possible in the partnership form of organization in India, on the basis of Capital contribution, Liability and participation in management.

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Answer 1

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