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Yes, if the charter or articles of organization permit it, and assuming all necessary steps in the bylaws are followed.
AnswerIn the Philippine law, it is not allowed. A Corporation cannot be a partner in a partnership but another partnership can. That is what I read on our law book by Hector de Leon..
What else can I help you with?
Can a public limited company become a partner in a partnership firm?
Yes, it can
Can a pvt ltd company be a partner in a partnership firm in India?
india
What partnership requires only one partner to be a general partner?
A partnership that requires only one partner to be a general partner is called a limited partnership. This is a form of partnership.
What amount of Profit retention does each partner get in a limited partnership?
All profits go directly to the partners. The amount each partner will receive will be determined by the amount each partner has invested in the company and/or the partnership agreement.
Can a pvt limited company be a partner in partnership firm?
Liability of a Pvt limited Company is limited - a mith. The fact is that liability of a share holder of a limited company is limited to the extent of value of the shares. In other words, the other assets of the shareholder can not attached for default of the company. So the liability of a limited company is limited to the assets of the company, not limited to the face value of the shares. On the other hand the partner of a partnership company has unlimited liability. i.e., the assets of the partner can be attached in case of default. Similarly, when a pvt limited company is a partner the liability of the company is unlimited and to the extent of assets of the company not to the assets of individual shareholders. So a limited company is a legal entity and can become a partner or proprietor of a firm.
What is the difference between registered company and partnership?
Unlike the shareholders in a limited company, the members of a general partnership have no financial protection if the business runs into trouble - each partner is responsible for the debts of the partnership as a whole. This means that each partner's personal assets may be at risk if the business fails
Can a company be a partner in a partnership in south Africa?
A partnership is not a registered legal entity, how the partnership operates is determined by the partnership contract. Where companies are involved a 'joint venture' might be a better term to use.
Minimum partners and maximum number in partnership?
Indian company act says minimum partner 2 maximum partner 20
Can an llc be a partner in a partnership?
Yes, an LLC can be a partner is a partnership and they often are. In this case, all partners in the general partnership are general partners.
How do you relinquish a partnership if the partner does not buy you out?
Withdraw as a partner. The partnership agreement should address this issue.
What is a principal partner in a partnership?
he is the sole propritor of a partnership
What suitable designation can be used by partner according to the partnership act 1932?
The Partnership Act of 1932 allows for a Limited Liability Partnership. In a Limited Liability Partnership, one partner is not responsible for another partner's negligence and misconduct. Depending on the state, and the partnership, there are varying degrees of limited partnership.
