CLARIFICATION ON DOUBT

Knowledge resource 144 views 1 replies

There is a partnership firm. There are 4 partners sharing the profits as per the profit sharing ratio in the agreement.  Firm need money and approached to another person who is not a partner.  He is interested to give me money but he says that i need share as a % of profit but i do not want to become partner.  The relationship is line borrower and borrowee.  Summary of the question:  can any one enter into an agreement with partnership for sharing of profits as a percentage on profits though he is not a partner of the firm.

Replies (1)
No...
Partners only eligible for the Share


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