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PARTNERSHIP ACT 1890
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- 1Partnership Act 1890"The relation which exists between persons carrying on business in common with a view to profit."
- Each partner acts as an agent of all the others for the purpose of the business.
- Each partner is bound by the acts of the other partners and each partner can be sued in his/her own name for the whole or any partnership debts.
- Should have a written agreement, if not, provisions of the 1890 Act will apply
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- ACCA CAP1 FINANCIAL ACCOUNTING (Session 7: Introduction to Partnerships) Flashcards on PARTNERSHIP ACT 1890, created by Jane Pollock on 01/05/2024.
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- Jane Pollock
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