Right of a partner

Right of a partners in partnership

Partnership is a mutual relationship between two persons for some profit making activity. Individual, we call them partners and jointly, we call them partnership. A partnership is a result of an agreement between the social unites or human being for some economic goals. Any partnership requires two or more persons which share their profit in a fix ratio. May be this agreement is in a written or oral format.

Right of a partner

Partnership Deed show/give lot of right to a partners like –

ü  Every partners have a right to manage the business

ü  Decision making – every partner have a right to participate in decision making or giving any suggestion or opinion

ü  Every partners have a right to go through the account or financial reports of business

ü  Every partners have a right to equal sharing of profit or a prefix ratio

ü  Every partners have a right to receive a interest in capital or investment or any loan on a fix ration

ü  Every partners have a right to use business property for the business use

ü  He a right to stop any new entry or partners

ü  Right to retire

ü  A retired person have start its own business having a smeller product of previous one