10 February 2009
I want to know that if two brothers are doing a manufacturing business but it is on the name of elder brother as a Proprietor & other brother is not an official partner. In this case if the brother (not offical partner) DIED then what is the good option for his family members whether to go for Partnership or ask for 50% share in written & and continue like this . Please provide me the best option in this case.
10 February 2009
Much depends on action rather than in writing. If elder brother is maintaining the Propreitor firm well and paying proper amount to the surviving people of younger brother, let it continue as it is.
If not, then go for partnership bring the spouse ofr LR's of the deceased younger brother.
10 February 2009
I want to know the details if we go for partnership or show deceased partner's spouse as creditor. please provide me the full details.
CAclubindia
