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PARTNERSHIP - Coggle Diagram
PARTNERSHIP
TYPES OF PARTNER
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Salary
owed a portion of its profits but is also receiving a monthly pay in exchange for their assistance to the firm
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LIABILITIES :
Contractual – sec. 11.
Each partner in a company is jointly responsible for any debts and obligations accumulated during their partnership, including tax and judgement debts.
Tortious – sec. 12.
To make a firm liable: performed by a partner with the consent of his co-partners or in the regular course of business of the firm
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