What is a Partnership?
According to Partnership Act, 1932, a partnership is defined as "the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all."Requirements of partnership are as follows:
- Must be twenty or less persons, but not more than twenty *
- For purpose of carrying out lawful commercial activity
Registration of Partnership
Relevant Laws for registration:
The Registration (Punjab Amendment) Act, 1941
The Registration Act, 1908
The Registration (West Pakistan Amendment) Act, 1967
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