8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 1/13
LOGO
Case on the basis of
partnership deed
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 2/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
Contents
partnership1
Click to add Title2
Click to add Title3
Click to add Title4
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 3/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
partnership
Partnership" is the relation betweenpersons who have agreed to share theprofits of a business carried on by all orany of them acting for all. The term isdefined as a voluntary contract betweentwo or more competent person to placetheir money, effects, labor and skill, orsome or all of them, in lawful commerce orbusiness, with the understanding that there
shall be a communion of the profits thereofbetween them
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 4/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
partnership
. Halsbury defines a partnership as "the
relation which subsists between persons
carrying on a business in common with a
view of profit".
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 5/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
Important elements necessary toconstitute partnership
There are four important elements necessary toconstitute partnership.
1.There must be an association of two or morepersons to carry on a business.
2.There must be an agreement entered into by all
the persons concerned. 3.The agreement must be to share the profits of a
business.4.The business must be carried on by all or any of the persons concerned acting for all
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 6/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
Types of Partnership
partners. Now there are various types of partnerships.
1. Ordinary Partnerships
2. Limited Partnerships
3. Partnership at-will
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 7/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
Dissolution of firm
dissolution without the intervention of court
1. by agreement
2. compulsory resolution
dissolution by the order of the court
P t t
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 8/13
w
w w . t
h e m e g a l l e r y . c o m
Company Logo
Process or t e sso ut on o aPartnership firm
The process requires a Rs. 250 stamp papercalled the dissolution deed which is submitted inNational bank through a challan form. After this,the partnership is required to inform the generalpublic through best possible means so an ad is
placed in a newspaper. The copies of N.I.C. of allpartners are attached to all the attesteddocuments. Later, when all the documents aresubmitted, the partners are required to report tothe office with their original N.I.C. from 9 am to11 am
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 9/13
w
w w . t
h e m e g a l l e r y . c o m
Dissolution by The Order of Court
1. Insanity.
2. Permanent incapacity.
3. Misconduct.
4. Persistent breaches.
5. Transfer of Interest.
6. Perpetual loss.
7. Just and Equitable
Company Logo
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 10/13
w
w w . t
h e m e g a l l e r y . c o m
Insanity. The partner has become of unsound
mind
Permanent Incapacity: a partner, other
than the partner suing, has become permanentlyincapable of performing his duties as partner
Misconduct: a partner, other thanpartner suing, is guilty of conductwhich is likely to affect prejudiciallythe carrying on of the business,regard being had to the nature of thebusiness
Company Logo
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 11/13
w
w w . t
h e m e g a l l e r y . c o m
Breach of Agreement: a partner, other than
partner suing, willfully or persistently commits breach of agreement relating to the management of the affairs of the firm.
Transfer of Interest. That a partner, other than
partner suing, has transferred whole of his interest in the
firm to a third party or has allowed his share to be sold inexecution of a decree.
Losses. The business of the firm cannot be continued
further on except at a loss.
Just and Equitable Cause. On any other
ground which renders it just and equitable that the firmshould be dissolved.
Company Logo
8/4/2019 Case on the Basis of Partnership Deed
http://slidepdf.com/reader/full/case-on-the-basis-of-partnership-deed 12/13
w
w w . t
h e m e g a l l e r y . c o m
procedure
Lawyer
Without informing
Partnership deed
Civil court
Court are liable
Stamp paper (1000)
According to the “specific relief act
1877 section42”
Company Logo
Top Related