1 / 13

Kinds of Partners and Partnership Deed

Kinds of Partners and Partnership Deed. Presented by Mr.G.A.Narasimham Lecturer in Commerce Govt.College(A), Rajamahendravaram. BUSINESS ORGANISATION & MANAGEMENT. UNIT – II OVERVIEW OF FORMS OF BUSINESS ORGANISATION Sole Proprietorship Partnership firm Joint Hindu Family Firm

lvancamp
Download Presentation

Kinds of Partners and Partnership Deed

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Kinds of Partners and Partnership Deed Presented by Mr.G.A.Narasimham Lecturer in Commerce Govt.College(A), Rajamahendravaram

  2. BUSINESS ORGANISATION & MANAGEMENT UNIT – II OVERVIEW OF FORMS OF BUSINESS ORGANISATION Sole Proprietorship Partnership firm Joint Hindu Family Firm Joint Stock Company Cooperative Society Choice of Form of Organization Government - Business Interface Public Sector Enterprises (PSEs) Multinational Corporations (MNCs)

  3. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP MEANING Partnership is the relationship between the persons, who have agreed to share profits of business carried on by all and any one of them acting for all. -Sec.4 of Indian Partnership Act, 1932

  4. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP – TYPES OF FIRMS GENERAL PARTNERSHIP Partnership for a fixed period Partnership at will Particular partnership LIMITED LIABILITY PARTNERSHIP OTHER TYPES OF PARTNERSHIP Joint Venture Co-Ownership

  5. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP – KINDS OF PARTNERS Working Partner Dormant Partner Secret Partner Nominal Partner Quasi Partner

  6. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP – KINDS OF PARTNERS Minor Partner Partner by Estopel Partner by Holding out Partner in Profits Sub-Partner

  7. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP DEED A partnership business is set up as a result of agreement or contract between the persons who are willing to carry on a business jointly to share the profits of business. The agreement may be either in oral or written form. Thus a partnership is always a written contract between the partners. Such an agreement or contract generally includes rights, duties, powers, obligations and provisions regarding profit sharing, payment of salary and commission etc.,

  8. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP – PARTNERSHIP DEED According to the Indian Stamp Act, an agreement is to be supported by a necessary stamp duty; otherwise it is considered to be invalid. Thus it is necessary to prepare a ‘partnership deed’ on the stamp paper of an appropriate value.

  9. BUSINESS ORGANISATION & MANAGEMENT PARTNERSHIP – PARTNERSHIP DEED As per the Indian Partnership Act 1932 a partnership deed cannot be signed by more than 10 persons in case of banking business and 20 in case of trading business. The deed must be dated and signed by all the partners of the firm. The provision of a partnership deed can be easily altered if necessary, with the consent of all the partners.

  10. BUSINESS ORGANISATION & MANAGEMENT Provisions of the Partnership Deed Places of operation of business Names , addresses and other details of partners Name of the firm, location and nature of business Amount of capital contributed by partners

  11. BUSINESS ORGANISATION & MANAGEMENT Provisions of the Partnership Deed Interest of Capital Partners drawing powers and interest thereon; Ratio of sharing of profits and losses

  12. BUSINESS ORGANISATION & MANAGEMENT Provisions of the Partnership Deed Types of partners Salary and Commission Admission and Retirement Basis of Valuation of Goodwill

  13. BUSINESS ORGANISATION & MANAGEMENT Provisions of the Partnership Deed Maintenance of Books of Accounts Mode of Settlement of Accounts after dissolution Arbitration clause in case of disputes Arrangement in case of insolvency

More Related