Write any four main features of partnership
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1. Agreement :-
Without agreement partnership can not be formed. The agreement may be written or oral. But it must be written on settle the disputes.
2. Registration :-
It is not necessary that a partnership may be registered. But in case of registered firm many problems can be created.
3. Number of Partners :-
In a partnership there should be at last two partners. In ordinary business the partners must not exceed the twenty. In case of banking not more ten.
4. Profit and Loss Distribution :-
The basic aim of partnership is to earn profit. This profit is distributed among the partners according their agreement. In case of loss also all the partners share in it.
Without agreement partnership can not be formed. The agreement may be written or oral. But it must be written on settle the disputes.
2. Registration :-
It is not necessary that a partnership may be registered. But in case of registered firm many problems can be created.
3. Number of Partners :-
In a partnership there should be at last two partners. In ordinary business the partners must not exceed the twenty. In case of banking not more ten.
4. Profit and Loss Distribution :-
The basic aim of partnership is to earn profit. This profit is distributed among the partners according their agreement. In case of loss also all the partners share in it.
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More Persons: ...Profit and Loss Sharing: ...Contractual Relationship: ...Existence of Lawful Business: ...Utmost Good Faith and Honesty: ...Unlimited Liability: ...Restrictions on Transfer of Share: ...Principal-Agent Relationship:
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