State any two essential features or characteristics of the Partnership other than a minimum number of partners and profit sharing.
State any two essential features or characteristics of the Partnership other than a minimum number of partners and profit sharing.
Anurag Pathak Changed status to publish April 9, 2023
The following are the two characteristics.
Agreement:-
The partnership comes into existence through an agreement, either written or oral. It is the basis of a relationship among partners, which may be for a particular venture, for a period, or at will. The written agreement among the partners is known as Partnership Deed.
Business:-
A partnership is established for a business. It can not be formed for any charitable purpose.
Anurag Pathak Answered question April 4, 2023
