Day: October 12, 2020

Performance: discharge of the undertaking as agreed. Obedience: acting in accordance with the principals instructions or authority. Accountability: explain application of money or assets coming into his hands. Care and skill: exhibit a degree of care and skill appropriate to Read More …

Death of a partner unless the articles of partnership provide otherwise. Performance of the undertaking. Lapse of time Termination at will Illegality Charging of a partners interest by a court order for a private debt. Bankruptcy of a partner unless Read More …

Obligations of a limited partner Not to take part in the management of the firms business. Not to compete with the firm. Disclose any personal interest to avoid conflict of interest. Not to withdraw or receive back his share during Read More …

Company limited by shares: This is a limited liability company. Limitation of liability by shares means that a member can only be called upon to contribute to the assets of the company the amount if any outstanding or unpaid on Read More …

Sharing of loss reduces the amount borne by a single partner. Partners enjoy relative privacy as the firm is not obliged to publish anything. Easy to from in that there are no legal formalities to be complied with. Partners are Read More …