Flashcards
Partnership Study Guide
Cards in this deck (5)
- 1Partnership Definition2 or more persons
contribute money property, industry to common fund
intention of dividing profits
exercise a profession - 2Profession definitionacademic learning is required
rendering public service - 3Characteristic elements of a partnershipconsensual
nominate
bilaterrall
onerous
commutative
principal
prepatory - 4Essential features of a partnershipvalid contract
legal capacity
mutual contribution
object must be lawful
primary purpose- profit - 5delectus personnaeno one can become a partner without the consent of all the other partners
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- Law Flashcards on Partnership Study Guide, created by kho.margaret on 25/05/2015.
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- kho.margaret
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