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Where a corporation is a partner in a partnership, the corporation's directors can have an indirect effect on the partnership.
Yes. A corporation is an artificial person but is a person according to the law and thus can be a partner in a partnership.
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
yep trust is the main thing in your relationship
It is possible for an s-corporation to be a partner in a partnership. You should check with a legal authority to see if there are any special requirements to affect this status for the s-corporation.
A partnership is a legal term to define a joint venture of 2 or more persons. In a partnership all of the partners are jointly and severally liable for any losses. In this type of arrangement each partner can be forced to pay for all of any debts. They would then have the option of going after the other partners for their pro-rata share of the debt. In a limited partnership the only entity liable for the debts is the "general partner". The general partner can be either a person or another partnership or corporation. In a corporation the corporation is the only entity liable for debts. The owners are not liable. The corporation is a fictional "person" in the eyes of the law.
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..
A partnership that requires only one partner to be a general partner is called a limited partnership. This is a form of partnership.
a.b,c formed a partnership w/ the following information: A, a capitalist partner, is to contribute 600,000 B, a capitalist and industrial partner, is to contribute 200,000 C, an industrial, is to contribute his skill.
A partnership is a different legal entity than a corporation. Therefore, literally speaking a corporation cannot be a partner in another corporation because corporations don't have partners. A corporation can be a security holder in another corporation. For example, a corporation that owns all of another corporation would be the "parent company," and the owned corporation would be a "wholly-owned subsidiary."Please note, at least here in the US, two corporations can form a partnership and it is not limited to actual people. There are some situations when this is advantageous over just forming a joint venture.
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.
Withdraw as a partner. The partnership agreement should address this issue.