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Partnerships (and limited partnerships)

Partnership is defined in Section 1 of the Partnership Act in 1892 and other related acts of states and territories.

Partnership is defined in Section 1 of the Partnership Act in 1892 and other related acts of states and territories. Partnership is the relationship which exists between persons carrying on a business in common with a view of profit.

But the relation between members of any company or association which is, 1, registered as a company under the Corporations Act or any other act of parliament at the time being in force and relating to the registration of joint stock companies or, 2, formed or incorporated by or in pursuance of any other act of parliament or letters patent or royal charter is not a partnership within the meaning of this act.

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Introduction to Business Law

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