Question

Section -C 3x4-12
09. Ravi, Pradeep. Satyender and Dharmender are partners in a partnership finmas and
active part in the operation of business whereas Pradeep has contributed in capital
day to day activities of the business. Dharmender is a nominal partner. All four
specified time period and also make written agreement to gover the partnership but the
the firm registered
a) What is meant by nominal partner?
b) What is written agreement between the partners called?
c) What type of partners Pradeep and Ravi are?
d) Give any one merit of registered partnership.
human being requires food to live, similarly, a business needs pro​

Answer 1

Answer:

Nominal Partner is a Partner who allows the use of his/her name by a firm. He does not contribute to capital nor he participate in the management. He generally does not share profit/losses and have unlimited liability

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b) General Partnership is there between the partners. In general partnership the liability of partners is unlimited and joint. The partners enjoy the right to participate in the management of the firm and their acts are binding on each other as well as on the firm

c) Written agreement between the partners is called partnership deed. The written agreement which specifies the terms and conditions that govern the partnership is called the partnership deed.

d) Ravi is active partner. Active partner are those Partners who take actual part in carrying out business of the firm on behalf of other partners. They contribute capital and takes part in the management. He shares the profit and loss of the partnership. His liability is unlimited. Pradeep is sleeping partner. Sleeping partner are those Partners who do not take part in day to day activities of business. They contribute capital and does not takes part in the management. He shares the profit and loss of the partnership. His liability is unlimited.

e) Two merits of getting firm registered are as follows:

•A partner of an unregistered firm cannot file a suit against the firm or other partners

•The firm cannot file a suit against third parties

Explanation:

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