Question

What are various types of partners and partnership?​

Answer 1

Answer:

VARIOUS TUPES OF PARTNERS...

Explanation:

Types of Partners in Partnership Act

• Active/Managing Partner.
• Sleeping Partner.
• Nominal Partner.
• Partner by Estoppel.
• Partner in Profits only.
• Minor Partner.
• Secret Partner.
• Outgoing partner.
• Limited partner.
• Sub-partner.

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Answer 2

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The partners can be following types :-

1) Active Partner - The partner,who actively participates in the management of partnership firm.

2) Sleeping Partner - The partner who does not participate in the management of partnership firm.

3) Secret Partner - The partner whose identity is not disclosed to outsider.

4) Nominal Partner - He is not the real partner, he only lends his name to the firm. Nominal partners can be of two types-(i) by stopping (ii) by holding out.

5) Minor Partner - Minor is not allowed to be a partner in partnership firm by Partnership Act. He can only be the beneficiary of partnership firm.