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A partnership is a voluntary association

of two or more persons, who contribute,
money , property, time & skill to carry on
business for profit and to

share the losses of a business.


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&'( ,* (*(
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&'(* -(()(.' .
@e.g. accounting records)
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&'(   @a) with the consent of
all the partners , @b) according to the
agreement, @c) by giving a notice to all
partners.
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&'(( ,* 11  a partner cannot
be expelled by any majority of partners unless
the decision is made for good.
2%
&'(-  & - a partner has
the right to act in an emergency, in order to
protect the firm from loss

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$%
(-(  must take
part in the running of business for
example contributing knowledge and
skill.
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( 3.'.1 should
not cheat over each other.
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(*(4 .(( each
partner must give full information about
the firm, to it·s co-partners.
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( .5*(* .(' 
. the property owned by the firm
must
only be used for business purpose only, not
for personal use.
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(--(.(* (1*(.
if a partner earns profit outside the firm
but from the benefit of the company
name, he is liable to pay that profit to
the firm.
2%
((. '&' a
partner cannot transfer his rights to an
outsider without the consent of co-
partners.