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Indian partnership act of 1932. Sec-4 of this act defines partnership as "A relationship between persons who have agreed to share their profits and losses of a business carried on by all or any of them acting for all".

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Lurline McLaughlin

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2y ago
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Antonette Beatty

Lvl 10
2y ago

Well, when you r very close and love each other very much and you get along.Agree (mostly) and r together for a long perod of time(your whole life time).

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Wiki User

12y ago

Indian partnership act of 1932. Sec-4 of this act defines partnership as "A relationship between persons who have agreed to share their profits and losses of a business carried on by all or any of them acting for all".

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Wiki User

11y ago

A Partnership Agreement is a written agreement between 2 or more people who join as partners to carry on a for-profit business. It states the nature of the business, capital contributed by each partner, and their rights and responsibilities. A partnership doesn't have a separate legal existence like an incorporated firm, and the partners are jointly and severally liable for the debts of the firm.

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shiv kumar

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1y ago

JR Compliance- finest partnership firm registration service provider. Get your partnership firm registration today from best firm registration consultants. Click to know benefits, documents required, and registration process.

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Wiki User

9y ago

A partnership is a company started by two or more people. Partnerships are good because you can work through the problems with someone else.

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Wiki User

10y ago

Partnerships are agreements between organizations.

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Q: What is a partnership company?
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Related questions

Can a partnership be a shareholder in company?

No a partnership cannot be a share holder in a company


What are some examples of a partnership company?

Partnership is an arrangement where parties agree to cooperate. The most common example of a partnership company is Facebook and Skype.


What is the conversion process from an accounting perspective when converting a partnership to a company structure?

a partnership converts to a company structure


Is zara the company a partnership?

no its is no its is not married


Can I later convert my Partnership firm into a Company or LLP?

Yes, there are procedures for converting a Partnership business into a Company or a LLP at a later date. However, the procedures to convert a Partnership firm into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Partnership firm.


Is a partnership a company?

A partnership is a company started by two or more people. Partnerships are good because you can work through the problems with someone else.


True test of partnership in company law?

what is true test of partnership feturse


Distinguish between partnership and company?

A partnership deal signed between two parties can be called a company. Yeah. Partnership can be called Company. First, because company means associates, a group of persons,etc. While the meaning of Partnership is, a group of two or more persons bind themselves to contribute money,property, or service. Simply means, they associates.. :)


What is a example of a partnership company?

Mc donald


What is the difference between company and patnership?

A company and a partnership are things that will often go together, but are not related. A company is something such as Microsoft, and a partnership would refer to two or more people that have a business relationship within the company.


Can we discuss the main differences between partnership and a company?

a partnership can have a minimum number of two partnesrs or the maximum twenty five. and the company more than 20.


What does 'LP' mean when referring to a company?

'LP' commonly stands for Limited Partnership when referring to a company structure. This means that the company has both general partners who manage the business and limited partners who invest but have limited liability.