What is Dissolution of Partnership by Court Order?
Introduction We always think that the partnership is dissolved by the partners by way of their mutual understanding. But it does not always happen. The same scenarios do not effectively work in every partnership firm. If a partnership…
Read more »Know the Difference Between Dissolution of Partnership and Dissolution of Partnership Firm
Introduction People are confused while thinking about the dissolution of a partnership firm and the dissolution of a partnership because it looks like both have the same meaning, but there are some differences between them. The dissolution of…
Read more »Dissolution of Partnership Firm: Know the Process of Step by Step
Introduction Dissolution of a partnership firm is a process as the end of the relationship between the partners of the partnership firm by the dissolution of the partnership firm business- with the dissolution of a partnership firm, all…
Read more »Know about the Modes of Reconstitution Of a Partnership Firm
What is the reconstitution of a partnership firm? We often notice that sometimes the partnership firms undergo changes or restructure. Most of these changes are related to specific conditions in the partnership firm, such as a new addition…
Read more »What is Meant by Reconstitution of Partnership Firm
Reconstitution of Partnership Firm Reconstitution of a partnership refers to a typical change or restructuring of an existing partnership firm enterprise. That may change depending on some event, such as when a new partner enters the firm business,…
Read more »Explain what is the Concept of Reconstitution of a Partnership Firm in Simple Terms
Reconstitution of a partnership firm Sometimes, the partnership firm needs to be restructured due to the reason behind the admission of a new partner, death of a partner, retirement of a partner, or partner’s wish to change terms…
Read more »What is a Nominal Partner in Partnership?
Definition of Nominal Partner The Nominal Partner is an individual who is not a part-owner and not actively involved in the firm’s operations. They are often well-known figures who lend their name to the company for a fee.…
Read more »What is an active partner in a partnership firm, and how it works?
What Is Active Partner? An active partner in a partnership refers to being involved in the firm’s daily work and operations. An active partner plays a significant role in growing and helping the partnership firm’s business. As active…
Read more »Which Provisions Are Available For The Partners In The Absence Of The Partnership Deed?
Introduction What happens when you enter into a partnership without a partnership deed?- In the absence of a partnership deed in written form, you might suffer losses of some benefits that can be eligible as a partner of…
Read more »What is the Pros and Cons of a Partnership?
Introduction When we look up the pros and cons of a partnership, we should also know that it is an easy way to form a new business and run any existing business. A partnership is one type of…
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