PARTNERSHIP
Hello Peepz, Hows Life? HOW ARE YOU???. Be
more positive and more thankful because they are alot of people all over the
world that would die to have what you have or kill to be you- so you are a STAR
to someone somewhere JUST D WAY U ARE. Yes YOU!!!!. It Is Well with You in
Jesus Name-Amen. Okay, Let's get straight to work!!!!.
Partnership is a
relationship that exists when two or more persons contribute skills or money in
order to establish, own and manage business activities, with the aim of making
profit. Partnership is formed by two to twenty persons but in banking the
maximum number of partners is 10.
Characteristics of Partnership:
# The Partners are Liable for the Total of
the Business without Limits. The Partners will lose their investment as well as
private properties in event of liquidity.
# In Partnership Business, no special
formalities are necessary but written agreement may be needed.
# Partnership is owned by two to twenty
persons or two to ten persons in banking sector.
# Every Partner is an agent of the business
and every act of a Partner done in carrying out of
