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Partnerships:
A partnership is defined by s.3(1) of the Partnership Act as "the relation which subsists between persons carrying on a business in common with a view of profit". This is a definition of the relation that exists between the individual persons who are trading as partners, rather than a definition of the apparent entity called a partnership. A partnership is not a body corporate and, being legally non-existent, cannot carry on a business. Section 6 of the Act states that persons who have entered into partnership with one another, are called collectively a firm, and the name under which their business is carried on is called the firm-name.
PENALTY FOR IMPROPER APPOINTMENT: S.161 (4) provides that if any unqualified person is appointed as auditor, the person appointed, the company and every officer i
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1. How do mandatory terms limit freedom of contract? 2. How do contract interpretation issues arise? 3. What is the difference between subjective and objective intent? 4
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