what do u mean by partnership nd waht are basic requeirements to constitute a partnership , give main characteristics?❓❓❓
Answers
Answer:
Some of the features of partnership are:-
1. Two or More Persons 2. Agreement 3. Lawful Business 4. Registration 5. Profit Sharing 6. Agency Relationship 7. Unlimited Liability 8. Not a Separate Legal Entity 9. Transfer of Interest
10. Mutual Trust and Confidence 11. Number of Partners 12. Profit Sharing 13. Principal-Agent Relationship 14. Joint Ownership 15. Ownership and Control 16. Registration 17. Duration 18. Capital and a Few Others.
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Answer:
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Partnership Firm: Nine Characteristics of Partnership Firm!
Existence of an agreement: Partnership is the outcome of an agreement between two or more persons to carry on business. ...
Existence of business: ...
Sharing of profits: ...
Agency relationship: ...
Membership: ...
Nature of liability: ...
Fusion of ownership and control: ...
Non-transferability of interest: