THE NATURE OF PARTNERSHIP Flashcards
1
Q
DEFINITION of partnership?
A
2
Q
patrner, firm and firm name?
A
3
Q
third party?
A
4
Q
act of firm?
A
5
Q
busines?
A
6
Q
essentials of a partnership[list names only]?
A
7
Q
1]there must be an agreement?
A
8
Q
2] Association of two or more persons?
A
9
Q
3] carry on business?
A
10
Q
4] sharing of profits?
A
11
Q
5] mutual agency among partners?
A
12
Q
no separate legal status?
A
13
Q
unlimited liability?
A
14
Q
exam tip?
A
15
Q
difference between coownership and partnership?
A
16
Q
types of partnership name?
A
17
Q
particualr partnership?
A
18
Q
partnership at will?
A
19
Q
types of partners names?
A
20
Q
actual/active/ostensible partner?
A
21
Q
silent partner?
A
22
Q
sleeping or dormant partner?
A
23
Q
partners in profits only?
A
24
Q
nominal partner?
A
25
Q
sub partner?
A
