Partnership Law

A Partnership is an association of two or more(prenominal) individuals carrying on business jointly for the purpose of making profits. Carrying a business jointly, means the two or more individuals shares responsibilities and decisions that favors or affects the company. For an individual to open up a firm, the partners should not be more than twenty (20) and not less than two (2) members respectively. The originator for this is could be found under the companys code, which makes it controlling for any union that consist more than twenty members and has the terminus or purpose of making profits to be co-ordinated as a company under the law. A partnership is a voluntary association; therefore a person cannot be forced to be a partner or to accept another person as a partner.
more at times, a partner may only be passively involved in running the business. such a partner c everyed a Sleeping partner relies on single or more Active partners to run the firm or business and probably want to be consulted on the well-nigh essential issues relating to the partnership such as change in ownership, structure, and change in the nature of the business or temperament (acquisition) of materials. Others are only included based on their personality.



Such partners called the Salaried partners attracts client to the firm and are paid on commission bases or takes profits at the end of the year. Unless otherwise agreed however, a Sleeping partner however has the homogeneous liabilities and responsibilities at law as the other partners.
To register a partnership, a copy of the partnership agreement and a command signed by all the partners is submitted to the Register Generals Department stating particulars of the name of partnership, nature of business, address of the principal, place of business, and all other places in Ghana at which the business is carried on, names, and addresses and occupations of the partners, assignment of commencement and particulars of any charges requiring registration. The Registrar then...If you want to get a full essay, order it on our website: Orderessay



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