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What partnership deed

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What partnership deed

Posted by Anish Jaswani 5 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Yogita Ingle 5 years, 5 months ago

A partnership deed also called as a partnership agreement, is a record that outlines in detail the rights and functionalities of all parties to a business operation. It has the force of law and is designed to guide the partners in the conduct of the business.

The Partnership comes into the limelight when:

There is an outcome of agreement among the partners.
The agreement can be either in written or oral form
The Partnership Act does not demand that the agreement has to be in writing. Wherever it is in the form of writing, the document, which comprises terms of the agreement is called ‘Partnership Deed’

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CBSE > Class 12 > Accountancy

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