Commerce Exam > Commerce Videos > Business Studies (BST) Class 11 > A. Types of Partners B. Partnership Deed
A. Types of Partners B. Partnership Deed Video Lecture | Business Studies (BST) Class 11 - Commerce
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FAQs on A. Types of Partners B. Partnership Deed Video Lecture - Business Studies (BST) Class 11 - Commerce
| 1. What are the different types of partners in a partnership? |  |
Ans. The different types of partners in a partnership are active partners, sleeping partners, nominal partners, minor partners, and partner by estoppel.
| 2. What is a partnership deed in commerce? | |
Ans. A partnership deed in commerce is a legal document that outlines the rights, responsibilities, and obligations of each partner in a partnership. It includes details such as profit-sharing ratio, capital contribution, decision-making processes, etc.
| 3. How is a partnership deed different from a partnership agreement? | |
Ans. A partnership deed is a more formal and legally binding document compared to a partnership agreement. It is usually written and signed by all partners, outlining specific terms and conditions of the partnership.
| 4. Can a partnership exist without a partnership deed? | |
Ans. Yes, a partnership can exist without a partnership deed, but it is highly recommended to have one in place to prevent misunderstandings or disputes among partners in the future.
| 5. What happens if there is a disagreement between partners regarding the partnership deed? | |
Ans. In case of a disagreement regarding the partnership deed, partners can seek legal advice or mediation to resolve the issue. If necessary, the partnership deed can be amended with the consent of all partners.
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Feb 16, 2025
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