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LAW OF PARTNERSHIP, HARANI A/P GANESAN 012020021525 - Coggle Diagram
LAW OF PARTNERSHIP
Liabilities of partners
Contractual – sec. 11.
Criminal – not jointly liable.
Holding out – not authorised.
Tortious – sec. 12.
Types of partner
Active
Quasi
Dormant
Salaried
FORMATION OF PARTNERSHIP
Sec. 4(a)
Joint ownership/tenancy
Sec. 4(b)
Sharing of gross returns
Sec. 4(c)
Sharing of profits
Ways of termination
Courts intervention
Section 37
Without court's intervention
Section 35
Section 34
Sectoion 36
Relationship of partners and 3rd parties
Sec. 7 – All acts done by a partner bind another
HARANI A/P GANESAN 012020021525