PREPARE A PARTNERSHIP DEED WITH THE FOLLOWING DETAILS
1.THE NAME OF THE FIRM
2.THE PRINCIPLE PLACE OF ITS BUSINESS
3.THE NAMES OF OTHER PLACE WHERE THE FIRM CARRIES ON BUSINESS
4.THE NAMES AND THE FULL ADRESS OF ALL THE PARTNERS
5.THE DATE ON WHICH A PARTNER JOIN THE FIRM
6.THE AMOUNT OF CAPITALS CONTRIBUTES BY PARTNERS
7.THE RATIO IN WHICH PROFIT WILL BE SHARED
Answers
Answer:
1)“Firm” means an enterprise of any type, a public institution, a credit union or other credit institution. ... “Firm name” means a name of the firm or unit of the firm which identifies the firm or a unit of the firm and allows to distinguish it from other firms and units of firms.
Answer:
Now a partnership is when two persons form an association to carry out a business with the motive to earn profits. They share the profits from such a business. Such an association will be voluntarily entered into by the partners based on an agreement between them.
Such an agreement between partners can be written or can even be oral. However, it is strongly advised for legal and practical purposes that such an agreement or contract be in the written form. And this written agreement between partners to form a partnership firm is what we call a Partnership Deed.