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CHAPTER 2

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TYPES OF PARTNERS

  • (1) Active Partner
  • (2) Sleeping Partner/Dormant Partner
  • (3) Secret Partner
  • (4) Nominal Partner
  • (5) Partner by Estoppel
  • (6) Partner by Holding out

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TYPES OF PARTNERSHIPS

  • Classification on the basis of duration
  • (1) Partnership at will
  • (2) Particular partnership

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  • Classification on the basis of liability
  • (1) General Partnership
  • (2) Limited Partnership

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  • Lack of secrecy
  • Government control
  • Inefficiency in management

Society

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e. Farmer’s cooperative societies

d. Credit cooperative societies

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FACTORS DETERMINING THE CHOICE OF ORGANISATION

  • 1. Cost and ease in setting up the organisation
  • 2. Liability
  • 3. Continuity
  • 4. Management ability
  • 5. Capital considerations
  • 6. Degree of control
  • 7. Nature of business

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ANFAS V S

HSST COMMERCE