993:, the relevant law for regulating partnership is the Partnership Act 1932. A partnership is defined as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. The law does not require written partnership agreement between the partners to form a partnership. A partnership does not also required to be registered, however an unregistered partnership has a number of limitation regarding enforcing its rights in any court. A partnership is considered as a separate legal identity (i.e. separate from its owners) in Bangladesh only if the partnership is registered. There must be a minimum of 2 partners and maximum of 20 partners.
36:
1072:(RUPA) of 1997 provides that "A partnership is an entity distinct from its partners." This is one of the more significant departures of RUPA from the 1917 Uniform Partnership Act, which does not recognize separate legal personality for partnerships; however, the degree to which this theory was actually respected varied by jurisdiction and over time.
153:
917:
By default a partnership will terminate upon the death, disability, or even withdrawal of any one partner. However, most partnership agreements provide that in these types of events, (1) the share of the departed partner usually remains in the partnership or is given to an identified successor, and
906:
By default, profits are shared in accordance with the proportion of capital contribution amongst the partners. However, a partnership agreement will almost invariably expressly provide for the manner in which profits and losses are to be shared in accordance with that proportion. Liability, on the
883:
Partnerships have certain default characteristics relating to both (a) the relationship between the individual partners and (b) the relationship between the partnership and the outside world. The former can generally be overridden by express agreement between the partners. Whilst the latter is in
921:
By default, each general partner has an equal right to participate in the management and control of the business. Disagreements in the ordinary course of partnership business are decided by a majority of the partners, and disagreements of extraordinary matters and amendments to the partnership
925:
Unless otherwise provided in the partnership agreement, no one can become a member of the partnership without the consent of all partners, though a partner may assign his share of the profits and losses and right to receive distributions ("transferable interest"). A partner's
1075:
The two main consequences of allowing separate personality are that one partnership will be able to become a partner in another partnership in the same way that a registered company can, and a partnership will not be bound by the doctrine of
884:
general hardly varied, a careful draft would oust certain kinds of third party liability. A clause can contain that only the negligent partners can be sued and it is the wrongdoers that pay damages to victims only.
922:
agreement require the consent of all partners. However, in a partnership of any size the partnership agreement will provide for certain electees to manage the partnership along the lines of a company board.
1004:
proposed to amend the law to create separate personality for all general partnerships, the
British government decided not to implement the proposals relating to general partnerships. The
1010:
confers separate personality on limited liability partnerships—separating them almost entirely from general partnerships and limited partnerships, despite the naming similarities. In
914:
of the partnership. Therefore, if that partner is apparently carrying on partnership business, all general partners can be held out as partners for his dealings with third persons.
978:
do not allow partnerships to acquire a separate legal personality, but permit partnerships the rights to sue and be sued, to hold property, and to postpone a creditor's
1061:
proposed to replace their general partnership, which does not have legal personality, with a public partnership which allows the partners to opt for legal personality.
702:
918:(2) the partnership will be dissolved. It is important to exclude duration on fixed term so that dissolution by notice and s.27 of the Partnership Act never apply.
660:
418:
615:
1006:
824:
519:
328:
507:
451:
410:
53:
389:
177:
1248:
1146:
887:
Subject to contrary agreement, the assets of the business are owned on behalf of all partners, and they are each personally liable,
456:
119:
100:
1126:
533:
434:
72:
57:
1224:
895:
liability. For example, if a partnership defaults on a payment to a creditor, the partners' personal assets are subject to
79:
359:
293:
543:
888:
817:
730:
207:
86:
426:
202:
187:
849:, is in most countries an association of persons or an unincorporated company with the following major features:
775:
710:
499:
369:
197:
68:
1105:
670:
537:
212:
172:
1253:
1095:
1069:
379:
300:
46:
810:
692:
466:
339:
253:
218:
182:
136:
1258:
635:
167:
760:
697:
930:
creditor may obtain an order charging the partner's "transferable interest" to satisfy a judgment.
735:
489:
461:
315:
288:
273:
655:
575:
548:
228:
223:
192:
93:
997:
1138:
1142:
958:
also grant some degree of legal personality to business partnerships, other countries such as
715:
585:
473:
348:
310:
305:
1130:
907:
other hand, will not be shared equally unless express provisions indicate such possibility.
896:
793:
780:
725:
625:
1203:
1000:, a partnership does not have separate legal personality. Although the English & Welsh
1100:
983:
875:
It is a partnership in which partners share equally in both responsibility and liability.
864:
765:
720:
443:
268:
1054:, which have full corporate personhood but otherwise function similarly to partnerships.
1083:
1001:
951:
927:
1242:
1131:
1065:
645:
527:
494:
144:
911:
605:
595:
1187:
1078:
1058:
971:
900:
842:
741:
278:
263:
258:
35:
1038:, which have no legal personality, and Commercial Code partnership corporations
17:
1166:
990:
943:
846:
798:
564:
514:
871:
the company may face, unless otherwise provided by law or in the agreement.
1011:
854:
770:
979:
963:
959:
248:
1225:“Transatlantic Perspectives on Partnership Law: Risk and Instability”
975:
955:
947:
939:
152:
1137:. Upper Saddle River, New Jersey: Pearson Prentice Hall. pp.
1017:
967:
892:
868:
411:
Charitable incorporated organisation (England and Wales)
29:
1014:
partnerships do have some degree of legal personality.
982:
against the partners until he or she has exhausted all
1082:
but will have unlimited legal capacity like any other
853:
Must be created by agreement, proof of existence and
1204:"How to start a partnership business in Bangladesh"
60:. Unsourced material may be challenged and removed.
1047:
1029:
1041:
1023:
419:Scottish charitable incorporated organisation
818:
8:
825:
811:
335:
131:
27:Basic form of partnership under common law
120:Learn how and when to remove this message
1020:law provides for Civil Code partnerships
1167:"Should you register your partnership?"
1118:
1007:Limited Liability Partnerships Act 2000
556:
481:
400:
338:
143:
1160:
1158:
520:Limited liability limited partnership
435:Industrial and provident society
1189:Section 4 of the Partnership Act 1932
863:The owners are jointly and severally
617:Gesellschaft mit beschränkter Haftung
7:
58:adding citations to reliable sources
910:Each general partner is deemed the
25:
986:against the partnership assets.
662:Société à responsabilité limitée
151:
34:
1133:Economics: Principles in Action
891:, for business debts, taxes or
45:needs additional citations for
1129:; Sheffrin, Steven M. (2003).
1:
1068:, section 201 of the Revised
860:Formed by two or more persons
544:Massachusetts business trust
1223:DeMott, Deborah A. (2001).
1048:
1030:
731:Piercing the corporate veil
427:Community interest company
402:UK / Ireland / Commonwealth
390:Economic interest grouping
1275:
1229:Journal of Corporation Law
934:Separate legal personality
867:for any legal actions and
500:Limited liability company
1042:
1024:
711:Internal affairs doctrine
706:and estoppel corporations
1249:Types of business entity
1106:Types of business entity
135:This article is part of
1096:Articles of partnership
1070:Uniform Partnership Act
381:Societas unius personae
243:General corporate forms
693:Business judgment rule
1057:In December 2002 the
903:to pay the creditor.
889:jointly and severally
637:Naamloze vennootschap
627:Kabushiki gaisha
444:Limited company
69:"General partnership"
841:, the basic form of
761:Beneficial ownership
698:Corporate governance
534:Delaware corporation
361:Societas cooperativa
54:improve this article
1108:(listed by country)
839:general partnership
776:Corporate registers
736:Rochdale Principles
490:Benefit corporation
316:Sole proprietorship
1127:O'Sullivan, Arthur
577:Aktiengesellschaft
549:Nevada corporation
998:England and Wales
835:
834:
716:Limited liability
678:
677:
587:Ansvarlig selskap
474:Unlimited company
311:Shelf corporation
306:Shell corporation
294:Limited liability
130:
129:
122:
104:
16:(Redirected from
1266:
1216:
1215:
1213:
1211:
1200:
1194:
1193:
1184:
1178:
1177:
1175:
1173:
1162:
1153:
1152:
1136:
1123:
1101:Investment clubs
1053:
1051:
1045:
1044:
1037:
1036:
1033:
1027:
1026:
827:
820:
813:
781:Registered agent
726:Drag-along right
666:
651:
641:
631:
621:
611:
601:
591:
581:
571:
540:
523:
503:
447:
438:
430:
422:
414:
403:
393:
385:
375:
371:Societas privata
365:
355:
336:
155:
132:
125:
118:
114:
111:
105:
103:
62:
38:
30:
21:
1274:
1273:
1269:
1268:
1267:
1265:
1264:
1263:
1239:
1238:
1220:
1219:
1209:
1207:
1202:
1201:
1197:
1186:
1185:
1181:
1171:
1169:
1164:
1163:
1156:
1149:
1125:
1124:
1120:
1115:
1092:
1049:mochibun kaisha
1039:
1034:
1021:
936:
881:
879:Characteristics
831:
786:
785:
766:Civil procedure
756:
748:
747:
721:Tag-along right
688:
680:
679:
664:
649:
639:
629:
619:
609:
599:
589:
579:
569:
538:statutory trust
532:
521:
501:
445:
442:
436:
428:
420:
412:
401:
391:
383:
373:
363:
353:
333:
331:by jurisdiction
330:
329:Corporate forms
321:
320:
301:Private limited
269:Holding company
244:
236:
235:
217:
163:
162:By jurisdiction
126:
115:
109:
106:
63:
61:
51:
39:
28:
23:
22:
18:General Partner
15:
12:
11:
5:
1272:
1270:
1262:
1261:
1256:
1254:Legal entities
1251:
1241:
1240:
1237:
1236:
1218:
1217:
1195:
1179:
1154:
1147:
1117:
1116:
1114:
1111:
1110:
1109:
1103:
1098:
1091:
1088:
1084:natural person
1002:Law Commission
952:Czech Republic
935:
932:
880:
877:
873:
872:
861:
858:
833:
832:
830:
829:
822:
815:
807:
804:
803:
802:
801:
796:
794:Company portal
788:
787:
784:
783:
778:
773:
768:
763:
757:
754:
753:
750:
749:
746:
745:
738:
733:
728:
723:
718:
713:
708:
700:
695:
689:
686:
685:
682:
681:
676:
675:
674:
673:
668:
658:
653:
643:
633:
623:
613:
603:
593:
583:
573:
559:
558:
554:
553:
552:
551:
546:
541:
530:
525:
517:
512:
511:
510:
508:Low-profit LLC
497:
492:
484:
483:
479:
478:
477:
476:
471:
470:
469:
464:
459:
454:
440:
432:
424:
416:
405:
404:
398:
397:
396:
395:
387:
377:
367:
357:
343:
342:
340:European Union
334:
327:
326:
323:
322:
319:
318:
313:
308:
303:
298:
297:
296:
291:
286:
276:
271:
266:
261:
256:
251:
245:
242:
241:
238:
237:
234:
233:
232:
231:
226:
219:European Union
215:
210:
205:
200:
195:
190:
188:Cayman Islands
185:
180:
175:
170:
164:
161:
160:
157:
156:
148:
147:
141:
140:
128:
127:
42:
40:
33:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
1271:
1260:
1257:
1255:
1252:
1250:
1247:
1246:
1244:
1234:
1230:
1226:
1222:
1221:
1205:
1199:
1196:
1191:
1190:
1183:
1180:
1168:
1165:Goni, Osman.
1161:
1159:
1155:
1150:
1148:0-13-063085-3
1144:
1140:
1135:
1134:
1128:
1122:
1119:
1112:
1107:
1104:
1102:
1099:
1097:
1094:
1093:
1089:
1087:
1085:
1081:
1080:
1073:
1071:
1067:
1066:United States
1062:
1060:
1055:
1050:
1032:
1019:
1015:
1013:
1009:
1008:
1003:
999:
994:
992:
987:
985:
981:
977:
973:
969:
965:
961:
957:
953:
949:
945:
941:
933:
931:
929:
923:
919:
915:
913:
908:
904:
902:
898:
894:
890:
885:
878:
876:
870:
866:
862:
859:
856:
852:
851:
850:
848:
844:
840:
828:
823:
821:
816:
814:
809:
808:
806:
805:
800:
797:
795:
792:
791:
790:
789:
782:
779:
777:
774:
772:
769:
767:
764:
762:
759:
758:
755:Related areas
752:
751:
744:
743:
739:
737:
734:
732:
729:
727:
724:
722:
719:
717:
714:
712:
709:
707:
705:
701:
699:
696:
694:
691:
690:
684:
683:
672:
669:
667:
663:
659:
657:
654:
652:
648:
644:
642:
638:
634:
632:
628:
624:
622:
618:
614:
612:
608:
604:
602:
598:
594:
592:
588:
584:
582:
578:
574:
572:
567:
563:
562:
561:
560:
555:
550:
547:
545:
542:
539:
535:
531:
529:
528:S corporation
526:
524:
518:
516:
513:
509:
506:
505:
504:
498:
496:
495:C corporation
493:
491:
488:
487:
486:
485:
482:United States
480:
475:
472:
468:
465:
463:
460:
458:
455:
453:
450:
449:
448:
441:
439:
433:
431:
425:
423:
417:
415:
409:
408:
407:
406:
399:
394:
388:
386:
382:
378:
376:
372:
368:
366:
362:
358:
356:
351:
347:
346:
345:
344:
341:
337:
332:
325:
324:
317:
314:
312:
309:
307:
304:
302:
299:
295:
292:
290:
287:
285:
282:
281:
280:
277:
275:
272:
270:
267:
265:
262:
260:
257:
255:
252:
250:
247:
246:
240:
239:
230:
227:
225:
222:
221:
220:
216:
214:
211:
209:
208:United States
206:
204:
201:
199:
196:
194:
191:
189:
186:
184:
181:
179:
176:
174:
171:
169:
166:
165:
159:
158:
154:
150:
149:
146:
145:Corporate law
142:
138:
134:
133:
124:
121:
113:
110:November 2009
102:
99:
95:
92:
88:
85:
81:
78:
74:
71: –
70:
66:
65:Find sources:
59:
55:
49:
48:
43:This article
41:
37:
32:
31:
19:
1259:Partnerships
1232:
1228:
1208:. Retrieved
1198:
1188:
1182:
1170:. Retrieved
1132:
1121:
1077:
1074:
1063:
1056:
1016:
1005:
995:
988:
937:
924:
920:
916:
909:
905:
886:
882:
874:
838:
836:
740:
703:
661:
646:
636:
626:
616:
607:Aksjeselskap
606:
597:Aktieselskab
596:
586:
576:
565:
452:by guarantee
380:
370:
360:
349:
283:
254:Conglomerate
198:South Africa
116:
107:
97:
90:
83:
76:
64:
52:Please help
47:verification
44:
1206:. OGR Legal
1079:ultra vires
1059:Netherlands
972:Switzerland
901:liquidation
843:partnership
742:Ultra vires
462:proprietary
279:Partnership
274:Joint-stock
264:Corporation
259:Cooperative
1243:Categories
1235:, 879–895.
1172:21 January
1113:References
991:Bangladesh
944:Luxembourg
897:attachment
847:common law
799:Law portal
647:Osakeyhtiö
566:Aktiebolag
515:Series LLC
80:newspapers
687:Doctrines
457:by shares
173:Australia
1210:29 April
1090:See also
1018:Japanese
1012:Scotland
984:remedies
928:judgment
893:tortious
855:estoppel
771:Contract
704:De facto
536: /
350:Societas
168:Anguilla
137:a series
1064:In the
980:lawsuit
964:Germany
960:Belgium
671:more...
289:Limited
284:General
249:Company
229:Germany
213:Vietnam
94:scholar
1145:
1031:kumiai
976:Poland
956:Sweden
950:, the
948:Norway
940:France
938:While
865:liable
845:under
665:(SARL)
640:(N.V.)
630:(K.K.)
620:(GmbH)
568:
557:Others
522:(LLLP)
467:public
446:(Ltd.)
421:(SCIO)
392:(EEIG)
352:
224:France
183:Canada
96:
89:
82:
75:
67:
968:Italy
912:agent
869:debts
600:(A/S)
590:(ANS)
502:(LLC)
437:(IPS)
429:(CIC)
413:(CIO)
384:(SUP)
374:(SPE)
364:(SCE)
193:India
101:JSTOR
87:books
1212:2016
1174:2016
1143:ISBN
1043:持分会社
974:and
954:and
899:and
656:S.A.
650:(Oy)
610:(AS)
580:(AG)
570:(AB)
354:(SE)
73:news
1139:190
996:In
989:In
178:BVI
56:by
1245::
1233:26
1231:,
1227:.
1157:^
1141:.
1086:.
1046:,
1028:,
1025:組合
970:,
966:,
962:,
946:,
942:,
837:A
203:UK
139:on
1214:.
1192:.
1176:.
1151:.
1052:)
1040:(
1035:)
1022:(
857:.
826:e
819:t
812:v
123:)
117:(
112:)
108:(
98:·
91:·
84:·
77:·
50:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
