What do you mean by General Partnerships
What do you mean by General Partnerships?
Expert
While there is no distinct body of law relating to sole proprietorships, there is a well-developed body of law—initially common law and now codified by statute—governing the affairs of a partnership. The Partnership Act, passed by the British Parliament in 1890, defined partnership as “relation that survives among persons carrying on a production in general with a view of profit.” Thus, a partnership is a joint business enterprise carried on for profit. In determining whether or not a relationship constitutes a partnership, the courts look at the substance rather than the form. The sharing of profits is an essential element of a partnership, as evidenced by the phrase with a view of profit. However, merely sharing profits does not by itself prove that a partnership exists but would be used in connection with other factors.
What are the requirements for a Written Memorandum?
Illustrate what do you mean by Tort Liability?
What is Agency?
Describe Duress in your terms?
What do you mean by discharge by Performance?
Explain what do you mean by sale of goods?
Explain how contract be terminated by Rejection and Counter-Offer?
What are the Rights of Shareholders?
Illustrate the mistakes in Performance?
What are the standards of court will apply during a judicial review?
18,76,764
1942674 Asked
3,689
Active Tutors
1444395
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!