Three main elements of Partnership:
A) Carrying on of a business:
• A ‘business’ is any trade, occupation or profession and it must be an active occupation or profession continuously carried on: Smith v Anderson (1880)
• An isolated transaction or a single venture will not be treated as a partnership
B) Carrying on a business in common:
• The business must be carried on by, or on behalf of, all the partners in an agency relationship
C) With a view to profit:
• The parties should intend to make a gain or profit.