Commerce SSS1 Third Term
The student should be able to:
1. State the advantages and disadvantages of a partnership.
Formation of Partnership
A partnership business may be established without any formality although the partners have certain unavoidable obligations to third parties; they may make such agreement between themselves in respect of the internal management of the firm. It is accordingly usual for people entering into a partnership to express their intention in a partnership agreement known as a deed of partnership. Deed of a partnership may be defined as agreements, rules and regulations guiding the members of a partnership.
The agreement contains the following rules and regulations:
1. The names of.... View More
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