Formation of a partnership
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2011
Can a partnership be formed with two partners one of which is Limited Co and other partner , A Partnership firm.
If no under what provisios - is it law of contract of under partnerhip act ?
If no under what provisios - is it law of contract of under partnerhip act ?
monika agrawal
(Expert)
23 September 2011
Limited company or any company can not be partner in a Firm. In the partnership act Definition of partner say a "person" can be partner in a Partnership Firm. according to definition of person company includes but according to Interpretation of law person means only individuals not include company.
Various case laws also support this so A company can't be partner in a Partnership Firm.
Various case laws also support this so A company can't be partner in a Partnership Firm.
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