Chapter 11 Partnership Flashcards

1
Q

Partnership

A

Partnership is a relation between persons who have agreed to share profits of a business carried on by all or any of them acting for all

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2
Q

Third party

A

Any person who is not a partner in the firm

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3
Q

Act of the firm

A

It means act done by a partner (within his authority) which gives right enforceable by or against the firm

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4
Q

Act of the firm

A

It means act done by a partner (within his authority) which gives right enforceable by or against the firm

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