Hi Everybody,
Can a company become a partner in a partnership firm? Please Reply with Reference to the Relevant underlying Section.
Sufyan ukaye (Student) (60 Points)
27 April 2012Hi Everybody,
Can a company become a partner in a partnership firm? Please Reply with Reference to the Relevant underlying Section.
A partnership agreement can be entered into between persons who are competent to contract. Every person who is of the age of majority according to the law to which he is subject and who is of sound mind and is not disqualified from contracting by any law to which he is subject can enter into a partnership.
A company is a juristic person and therefore can become a partner in a partnership firm, if it is authorised to do so by its objects.
prakash
(Company Secretary)
(1352 Points)
Replied 28 April 2012
Company can be partner in Partnership firm if it is provied in AOA, Company being artifial person in eye of law.
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