Ravi, Pradeep, Satyender and Dharmender are partners in a partnership firm. Ravi and Satyender take active part in the operation of business whereas Pradeep has contributed in Capital but does not take part in day to day activities of the business. Dharmender is a nominal partner. All four make partnership for a specified time period and also make written agreement to govern the partnership but they do not get the firm registered. a. What is meant by nominal partner? b. Which type of partnership is there between the partners in above? c. What is written agreement between the partners called? d. What type of partners Pradeep and Ravi are? e. Give two merits of getting a firm registered.
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Types of Partners in a Business Partnership. Partners are of different kinds in a business partnership. They are as working partner, sleeping partner, nominal partner, partner by estoppel, limited partner, secret partner, partner by holding out, sub-partner, partner in profit.
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