When Does a Partnership Exist?

A Partnership Agreement is important for the parties to do business together for the purpose of making a profit.

Section 4 of the Partnership Act lists down matters to determine whether a partnership exists or otherwise, such as joint tenancy, tenancy in common, joint property, profit sharing and receipt of profit, employees, and receipt of annuity.

Are you in a business partnership? Make sure your business has a clear and concise Partnership Agreement by consulting with us.

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