CPT Chapter General Nature of Partnership

CA CPT Exam  

With Bharat Galani.Duration:4hrs 10min

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General Nature of Partnership Duration (min:sec)
About Partnership  
{modal https://www.youtube.com/embed/nFgAyQ_i2aM?autoplay=1;rel=0|width=780|height=439|title=Overview of Partnership}Overview of Partnership{/modal} 03:50
{modal https://www.youtube.com/embed/y1W5AFuwnws?autoplay=1;rel=0|width=780|height=439|title=Index}Index{/modal} 01:39
{modal https://www.youtube.com/embed/dhec8Y0Pd3g?autoplay=1;rel=0|width=780|height=439|title=What is Partnership?}What is Partnership?{/modal} } 17:45
10:53
{modal https://www.youtube.com/embed/6FCpIKKq-WM?autoplay=1;rel=0|width=780|height=439|title=Mutual Agency}Mutual Agency{/modal} 03:01
{modal https://www.youtube.com/embed/_r4dzdFJd0k?autoplay=1;rel=0|width=780|height=439|title=Is it Partnership}Is it Partnership{/modal} 10:49
{modal https://www.youtube.com/embed/stZTrdSECm4?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 14:23
{modal https://www.youtube.com/embed/vZIafROI6ks?autoplay=1;rel=0|width=780|height=439|title=Illegal Association}Illegal Association{/modal} 14:14
{modal https://www.youtube.com/embed/7iEz50To8WM?autoplay=1;rel=0|width=780|height=439|title=Test of Partnership}Test of Partnership{/modal} 12:20
Partnership vs Other Organisation  
{modal https://www.youtube.com/embed/KC8nx_XM4fE?autoplay=1;rel=0|width=780|height=439|title=Partnership vs Company}Partnership vs Company{/modal} 14:55
{modal https://www.youtube.com/embed/pe8kwVjEFvQ?autoplay=1;rel=0|width=780|height=439|title=vs HUF}vs HUF{/modal} 07:43
{modal https://www.youtube.com/embed/AIi2-5_6fGI?autoplay=1;rel=0|width=780|height=439|title=vs Co-Ownership vs Club vs Association vs Joint Venture}vs Co-Ownership vs Club vs Association vs Joint Venture{/modal} 11:36
{modal https://www.youtube.com/embed/FtqPzVKBO1w?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 07:47
Nature of Partnership  
{modal https://www.youtube.com/embed/yG5NPBlDtns?autoplay=1;rel=0|width=780|height=439|title=Who can form Partnership}Who can form Partnership{/modal} 15:56
{modal https://www.youtube.com/embed/7cknWEWK9TQ?autoplay=1;rel=0|width=780|height=439|title=Types of Partnership}Types of Partnership{/modal} 11:38
{modal https://www.youtube.com/embed/InXfAByORT0?autoplay=1;rel=0|width=780|height=439|title=Types of Partners}Types of Partners{/modal} 29:26
{modal https://www.youtube.com/embed/-_woObqZoeI?autoplay=1;rel=0|width=780|height=439|title=Partner by Holding out}Partner by Holding out{/modal} 13:51
{modal https://www.youtube.com/embed/58t4_bmJAMU?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 06:21
{modal https://www.youtube.com/embed/HIJwsAxwCXI?autoplay=1;rel=0|width=780|height=439|title=Minor as Partner}Minor as Partner{/modal} 07:03
{modal https://www.youtube.com/embed/vjzFD0l2FU4?autoplay=1;rel=0|width=780|height=439|title=Rights and Liabilities of Minor}Rights and Liabilities of Minor{/modal} 05:51
{modal https://www.youtube.com/embed/YeETalf2hRE?autoplay=1;rel=0|width=780|height=439|title=Rights of Minor Attaining Majority}Rights of Minor Attaining Majority{/modal} 15:16
{modal https://www.youtube.com/embed/rXqM2yTSin4?autoplay=1;rel=0|width=780|height=439|title=Summary Minor Position on attaining Majority}Summary Minor Position on attaining Majority{/modal} 08:17
{modal https://www.youtube.com/embed/VruwlKbxMzI?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 04:25
{modal https://www.youtube.com/embed/Ql9PFtRX49I?autoplay=1;rel=0|width=780|height=439|title=Conclusion}Conclusion{/modal} 01:38
Total 04:10:37

Notes

General Nature of Partnership

Index

What is Partnership?
Features of Partnership
True Test of Partnership
Partnership vs Other Organisation
Who can become a partner in a firm
Types of Partnership
Types of Partners
Minor’s position in Partnership

Definition

(Section 4)
“Partnership is the relation between persons who have agreed to share the profits of a business carried on by allor any one of them acting for all”

Features of Partnership

At least 2 persons
Agreement
Existence of business
Sharing of Profits
Mutual Agency

Partners as agent of a firm

Mutual agency- Cardinal Principle / True test
Partner is Both principal & agent- not mere agent
Partner has Capacity to bind other partners by his act
Only for acts done related to business

Other forms of Organisation

Company
HUF
Co Ownership
Club
Association
Joint Venture

Types of Partners

Active /Working/Ostensible
Sleeping/Passive/Dormant
Nominal
Partner in Profit Only
Sub Partner
Partner by Holding out
Partner by Estoppel
Secret Partner
Minor Partner

Partnership by Holding out

Someone holds out as partner
Represents himself or permits himself to be represented as a partner
(though he is not a partner)
Liable like a partner
Only the person to whom representation has been made – Enforce Liability
Fraudulent intention is not relevant


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