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Author Topic: What are the legal rights of a partner?  (Read 1595 times)

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Offline advamrita

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What are the legal rights of a partner?
« on: October 12, 2013, 10:58:34 PM »
A partner has certain legal Rights they are namely:
#. To take part in the business.
#. To share the profit or loss of the business.
#. To inspect and make copies of the books of the firm.
#. To receive remuneration for taking part in the business if specified in the partnership deed. #. To receive interest on capital if specified in the partnership deed.

Offline advsarmaroy

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Re: What are the legal rights of a partner?
« Reply #1 on: October 27, 2013, 11:57:48 PM »
Apart from the above a partner has a "right to be informed"
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Offline voisbornn

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Re: What are the legal rights of a partner?
« Reply #2 on: March 18, 2014, 10:26:04 PM »
Generally, It will be based on the category of business and its partners. Here, I am shared general partnership rights.
1.hold all profits in trust to be distributed equally to the partners
2.not divert partnership funds into your own account
3.gain consent from the other partners before acting on behalf of the partnership
  Like that many more will be considered under this.


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Offline touqeer

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Re: What are the legal rights of a partner?
« Reply #3 on: March 21, 2014, 04:14:06 AM »
If the partner have a share certificate they are also the legal partner of the company. Also sell their share certificate.

 

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