Partnership Law

A Partnership is an association of two or much(prenominal) soulfulnesss carrying on trade organization jointly for the purpose of making profits. Carrying a business jointly, means the two or more individuals sh ars responsibilities and decisions that favors or affects the comp whatsoever. For an individual to open up a firm, the partners should not be more than twenty (20) and not less than two (2) members respectively. The originator for this is could be found under the companys code, which makes it controlling for any union that consist more than twenty members and has the terminus or purpose of making profits to be co-ordinated as a company under the law. A partnership is a instinctive association; therefore a person cannot be squeeze to be a partner or to accept an other(prenominal) person as a partner. more at times, a partner may only be passively regard in running the business. such a partner c everyed a Sleeping partner relies on single or more Active part ners to run the firm or business and probably want to be consulted on the well-nigh inseparable issues relating to the partnership such as lurch in ownership, structure, and change in the nature of the business or temperament (acquisition) of materials. Others are only included based on their personality.

Such partners called the compensated partners attracts client to the firm and are paid on focus bases or takes profits at the end of the year. Unless otherwise agree however, a Sleeping partner however has the homogeneous liabilities and responsibilities at law as the other partners. To register a partnership, a copy of the partnership agreement and a command subscribe by all t he partners is submitted to the Register Gen! erals subdivision stating particulars of the name of partnership, nature of business, address of the principal, place of business, and all other places in Ghana at which the business is carried on, names, and addresses and occupations of the partners, assignment of offshoot and particulars of any charges requiring registration. The Registrar then...If you want to get a complete essay, order it on our website: OrderEssay.net

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