partnerships Flashcards
1
Q
1
A
definition of a partnership
the relation which subsists between persons carrying on a business in common with a view of profit.
2
Q
2
A
factors to consider when starting a partnership
includes payment from profits - prima facie evidence
3
Q
6
A
authority
actual authority, implied authority, apparent authority
4
Q
9 and 12
A
liability, joint and severally
5
Q
14
A
holding out
6
Q
17
A
indemnity to other partners when one retires
7
Q
25
A
expulsion
8
Q
24
A
interests are equal.
9
Q
29
A
accountable for private profits made
10
Q
30
A
not to compete with the firm
11
Q
32
A
dissolution of partnership
12
Q
s 36
A
actual notice of leaving
13
Q
A
