Dear All,
Good after noon
I am making a patneship deed but facing a problem.We are starting a partneship firm. There are 3 partners in this firm. The profit sharing will be A- 50%,B- 40% and C- 10%. and capital sharing is A- 60%, B- 40%. , C- 0%.
so there is a query
** Can a partner introduce in a partnership firm without capital ??
Dear Nisha, I don't think so that such can happen. A person in order to become a partner in a p'ship firm needs to make some sort of capital investment either in cash or in kind. else he does not have right in the p'ship firm.
Partneship agreement is one form of a contract. Hence, if partners write so, its valid agreement. However, in case 0% contribution does not mean that Nil liability. All partners incur unlimited liability. Creditors / lenders can approach any partner in case of firm's liquidity problem.
SKAA & Associates
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CA Inter
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