Dear Colleagues and Practicing Members,
Can I mentioned Nominee name in the Partnership deed by inserting following line...
"In case of death or Unsound mind of any partners then nominee has legal Right to take part into the business or shall withdraw his/her share from the Partnership firm..
please resolve my queries...
No.
Nominee can take care on behalf of legal heirs, but cannot be partner in case of death of any partner.
CAclubindia
