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patnership act 1890

2. Limited patnership act 1907
3. Limited liability patnership act 2000 (LLP)
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patnership act 1890

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All patner must active

Minimum two and max unlimited
Profit and loss equally distributed
Equally responsible for sudden loss
Equally liable for liabilities
Must Joint patnership account
Written or oral agreement
partnership end at partner death

2:Limited patnership act 1907

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*there must be one general partner responsible for all libilities

*Minimum 2 max should not exceed 20
*One with unlimited liabilities
*limited liabilities for limited partners
*Death does not end limitd liability
*Must be registered with the Registrar of Companies
*no part in the management
*bankrupt: only the general partners are liable
*L.Lhe is not an agent of the firm

document must be signed and state

1. name
2. location/ address of its registered office
* A registration fee also

1. Limited liability patnership act 2000 (LLP)

*Just like company

*Dissolve by mutaul agreement or by notic
*Liabilities are limited
*More legal docoments requirement
*Minimum 2 maximum unlimited
*More formal
*Every member is an agentof the LLP
-----------*partner who retires is still liablefor any outstanding debtsincurred while they
were a partner
*under partnership Act 1890 profit sharing will be equally