Institute of law Nirma University A Research Project On: “Comparative analysis of “limited liability partnership act 2008” with respect to “partnership act 1932” Submitted to: sub mitted by: Prof. Nizam Khan Abhijeet Dubey Asst. Prof. of Law ILNU 11BBL022 Acknowledgement I would like to thank my professor
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to whether or not she would like to take on perspective partners in her company of if she would rather take on this company as being its sole owner. She has several options that she is considering in operating her new business. Some of those options include the following: operating as a franchise‚ sole proprietorship‚ partnership of some sort‚ a corporation of some sort‚ as an LLC‚ and even a joint venture. She has come to me asking of my input on what I think about her possible start up of
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liability of the shareholders. However‚ under certain circumstances the corporate entity may be disregarded. This is also known as piercing the corporate veil and is the most frequent method for holding the shareholders liable for the acts of a corporation. Corporate officers‚ directors and controlling shareholders have a general fiduciary duty of loyalty and care which should govern all their corporate conduct. Unless they breach that duty by gross negligence or acts in bad faith‚ they usually will
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BASIC CONSIDERATIONS AND FORMATION Partnership -In the contract: Two or more persons bind themselves to contribute money‚ property‚ or industry to a common fund‚ with the intention of dividing the profit among themselves. -Two or more persons may also form a partnership for the exercise of a profession. (Civil Code of the Philippines‚ Article 1767) -The partnership has a juridical personality separate and distinct from that of each of the partners (Civil Code of the Philippines‚ Article 1768)
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Historical Background PARTNERSHIP 1st Sem; 2003 the Roman law‚ the law merchant and equity‚ and the common law courts. Governing law in our jurisdiction Before the new Civil Code‚ commercial or mercantile partnerships were governed by the Code of Commerce and non-commercial or civil partnerships by the old Spanish Civil Code. The new Civil Code superseded the old Civil Code and expressly repealed in toto the provisions in the Code of Commerce relating to partnerships. Consequently‚ the new
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as a partnership. A partnership is created in law when two or more persons agree to carry on a business together. This agreement can either be put in writing or oral. The law relating to partnerships is largely contained in the Partnership Act 1890 (hereafter "PA 1890"). Section 1 of the PA 1890 defines a partnership as "the relation which subsists between persons carrying on business in common with a view to profit. "It is important to note at the outset that‚ unlike a company‚ a partnership does
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of Partnerships: Scott Osborne The applicable law: Partnership Act 1892 (NSW) The relevant law is contained in the Partnership Act (PA) of each of the jurisdictions. All are based on the PA (1890) UK Act. The contractual nature of Partnerships Partnerships are essentially contractual. Defining a Partnership [s.1 PA 1892 NSW] The PA defines a partnership as “the relation which exists between persons carrying on a business in common with a view of profit” Partnerships are
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general‚ Indian English has fewer peculiarities in its vowel sounds than the consonants‚ especially as spoken by native speakers of languages like Hindi‚ the vowel phoneme system having some similarities with that of English. Among the distinctive features of the vowel-sounds employed by some Indian English speakers: * Many Indian English speakers do not make a clear distinction between /ɒ/ and /ɔː/. (See cot–caught merger.) * Unlike British‚ but like some American English‚ some Indian speakers
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Power in Foreign Relations Study No. 1 The “Sole Organ” Doctrine By Louis Fisher Specialist in Constitutional Law The Law Library of Congress James Madison Memorial Building; 101 Independence Avenue‚ S.E.; Room LM 240; Washington‚ DC 20540-3200 Reception: (202) 707-5065 – FAX: (202) 315-3654 www.loc.gov/law/congress LAW LIBRARY OF CONGRESS August 28‚ 2006 A Series of Studies on Presidential Power In Foreign Relations: No. 1: The “Sole Organ” Doctrine Louis Fisher 1 Specialist in
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PARTNERSHIP AGREEMENT entered into between: ___________________________________________________________________________ (full name and registration number) (“the First Partner”) and ___________________________________________________________________________ (full name and registration number) (“the Second Partner”) and ___________________________________________________________________________ (full name and registration number) (“the Third Partner”) WHEREBY IT IS AGREED
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