Partnership is relation between persons who have agreed to share the profits of a business carried on by all or any one of them acing for all.
An Analysis of this definition brings Following four elements essential
characteristics of partnership
i: There must be an agreement (written or Oral).
ii: There must be legal Business.
iii: The business must be controlled by all, some, or any one of them.
iv: The object of Business is to share the income of the Business.
To explore more about Partnership firm registration online kindly visit our website
ReplyDelete