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QUESTION

Discuss the difference between a Registered Company and a Partnership business organization taking into consideration the following aspects: a) Management b) Agency of members c) Transfer o

Discuss the difference between a Registered Company and a Partnership business organization taking into consideration the following aspects:

a)     Management

b)    Agency of members

c)     Transfer of shares

d)    General Powers

e)     Statutory controls

f)     others

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* ************* ********* association ** persons ********** as * ******* *** formed *** *** ******* ** any ****** ****** ** called * company But * partnership is the ******** between *** ** **** *********** *** have agreed to ***** *** profits ** * business carried ** ** *** ** any of **** ****** for *** *** *********** collectively ****** ** * ***** LawA ******* ** ********* *** controlled ** the Companies Act But a *********** firm ** ********* ** the *********** *** 19323 RegistrationA ******* ****** ** ************ ********** ***** *** ********* *** *** ********* ** **** difficult But ************ ** * *********** **** ** *** ********** under *** *********** *** *** **** ** based ** the *********** **** Its ********* is **** ***** ***** PositionA ******* is * **** ********* *** * ***** ****** having a ********* *********** ******** **** its ******* *** ******* are not ****** for the acts of *** company *** a *********** has ** legal ********* distinct from *** ******* ******** *** ****** *** *** **** of *** firm5 **** ***** ******* ** ***** *********** ** *** So its ********* ** *** ******** ** *** change of membership ** ***** ** ********** ** its ******* *** * *********** ** ***** *********** ** individuals ** *** life ** * *********** ends on the ***** ** ********** or ******** ** *** *** ******** ************ ******* liability ** the ************ in **** of a ******* company ** ******* to the **** ***** of *** ****** purchased by them ** case of ********* ******* ** ********* *** ********* ** the ************ **** be up ** *** ****** guaranteed ** them But ** **** ** * *********** *** ********* of the partners ** unlimited *** ******** are ******* *** ********* ****** for *** *** ***** ** *** *********** ***** *************** of ************ of * ******* *** ****** transferable ****** ********** by *** Articles But * ******* ****** ******** *** share without *** consent of *** ***** partners8 ContractA ****** ** * company *** enter **** * contract with *** **** ******* But * partner ** * firm ****** enter **** ******** **** the **** *********** ***** ****** ** ******** ******* ******* ****** **** a ******* of * ******* *** *** have a ******* ** 50 ******* * ****** ******* ****** **** * ******* of 7 ******* *** ***** ** ** ******* ***** But * *********** ****** have * minimum ** * and can **** * ******* ** ** ******* *** in *** **** ** ******* business]10 ******** ******** ** a ******* ****** ** audited by a ********* ******* But in the **** ** * *********** *** ******** **** *** ** ******* Even ****** *** ******** ****** ** ******* *** *** ***** ** ***** **** *** ******* **** not ** * ********* ****** *** ****** ****** *** *********** ** an ******* ** * ******* *** regulated ** the Companies ****** ** *** case ** * *********** ***** the duties are ******** by *** ********** ** *** ******** entered **** ** *** partners **** *** auditor11 ******* ******** **** of * company a *********** ** not ******** as its agent ** dealing **** ***** ******* *** ** case ** a *********** a partner is ** ***** ** *** **** *** ** *** other ******** in ******* with third ********* Good ********** **** *** **** ** ****** **** ** the ************ ** *** company may *** know **** other ** ****** expect **** all *** ************ *** **** and honest ** one another But ** *** **** ** * *********** *** partners **** **** other thoroughly *** *********** ********* is ***** ** ****** **** faith So *** partners *** ** be **** and ****** to one ********* ************* ********** ** * ******* ** ** *** hands of * ***** ** ******* representatives ** the ************ **** **** ***** finds ** ********* ** ********** the ********** ******* of *** company ** ** ******* ** ****** ** salaried people **** ****** ****** be expected to take active **** in *** ********** ** the ownersBut ** *** **** ** * partnership the ********** ** ** the ***** ** the ******** ********** **** work ** ******** ********* **** can give ******** attention ** *** ********* *** **** ********** *** customer-firm ************** Decision-MakingIn case ** ********* taking ********* ** ********* ****** ******** * fairly **** **** *** ** **** ** * *********** **** quick ********* *** ********** ***** ** *************** ***** ******* ** *** **** ******** organization ***** is authorized to borrow ***** ******* *** ***** ** DEBENTURES * *********** **** ****** ***** ************ RestrictionsThe ********* *** deal with * company ****** be ***** ** *** ********** of *** ******* ** because *** restriction on ********* ****** *** ********* *** ** **** of a partnership *********** ** *** ******* **** not affect *** ********* ** **** **** *** ** ***** of *** provisions ** *** partnership ****** ********** ********* **** to **** ***** ********* ******* ******* ******* ***** ****** and loss ******* *** **** the Registrar **** ** them *** **** ** ****** ** ***** is ** ******* ** *** ** **** ** ********* *** in **** of * partnership the **** **** *** ******* and file such documents ** *** ******* *** *** leaked *** ********* ****** know *** in *** outs ** the ****** ******* FormationEven ****** **** ******* ********* can ****** the ************ of a *** ******* This ****** **** ** **** ********* *** ** ***** ****** *** ****** **** ** * ***** ****** for ******* ********* ** *** ******* **** * capital ********* ** *** possible in *** case ** * partnership19 ************ ******* ***** * ******** ** law can **** ** ********* ** **** down by *** * *********** **** ** the ***** **** is *** result of ** ********* *** *** ** ********* at *** **** ** *********

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