Parnership
This query is : Resolved
27 May 2010
Can Mr. X (Individual)and Mr. X HUF can together form Partnership Firm?
27 May 2010
Yes.
The term "Person" is not defined in the partnership Act/Indian Contract Act.
As per the General Clauses Act, the term includes artificial persons as well.
Practically, I know of such Partnerships.
The term "Person" is not defined in the partnership Act/Indian Contract Act.
As per the General Clauses Act, the term includes artificial persons as well.
Practically, I know of such Partnerships.
27 May 2010
Shyam ji,
But in this case, How the partnership deed will be signed. Will it be valid, if Mr.X sign for himself and also as karta for HUF.
But in this case, How the partnership deed will be signed. Will it be valid, if Mr.X sign for himself and also as karta for HUF.
27 May 2010
Yes it will be valid
27 May 2010
Dear Mr. Palani,
I did not went through the question carefully. Although one can sign in one's indivisual capacity and in the capacity of karta, I am not sure, whether it shall be a legally valid contract.
Fit query to be tested at lawyersclubindia as well.
I did not went through the question carefully. Although one can sign in one's indivisual capacity and in the capacity of karta, I am not sure, whether it shall be a legally valid contract.
Fit query to be tested at lawyersclubindia as well.
27 May 2010
yes
28 May 2010
My view is that it will be valid, since the signing in made in different capacities, One as an individual and one as a Karta....
Really thinkable one...
Really thinkable one...
06 June 2010
thanku sir to all for sending such comments to my querries
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
