A. Types of Partners B. Partnership Deed Video Lecture | CMAT Mock Test Series - CAT

if they're from here that sufficient
funds because the number of members is
more and there we are taking it as it is
advantage than limited resources because
there is a limit on to the maximum
number of partners that is 100 right but
when we take it as an advantage we are
taking it as an advantage considering
joint into family and sole
proprietorship but when we say it's a
disadvantage we are taking it as a
disadvantage comparing it with a company
form of organization where there are
lakhs and lakhs of shareholders clear
then it would be a possibility of
conflict whenever there are more than
one person the Pointer they are going to
be more than for more than one point of
view right it is not necessary that if a
B and C are partners team okey so CH xu
e or t know will always three all three
of them are always going to be in
consensus not possible right there are
going to be conflicts they may differ in
their point of view they may not be able
to arrive at a decision I've at a
decision right
the minute we are able to arrive at a
consensus which may lead which may lead
to delay in decision making lack of
continuity because if a if out of three
are out of two even a single person dies
the partnership automatically is
dissolved right and a new partnership
agreement has to be entered into then
comes lack of public confidence since
partnership firm does not publish its
account right it does not publish into
account and does not make the make its
accounts public so there may be a lack
of public confidence public may not have
that much of confidence investing its
money in a partnership firm now after
this let's come to the different type of
partners right depending upon the amount
that they contribute in a partnership
form right or the kind of role that they
play in a partnership firm now the first
type of a partner that you are going to
be talking about is we are doing types
of partners
first is active partner active partner
is the one who contributes capital in
the partnership firm right and takes
part in the working or decision-making
process actively he is a very active
partner he is very much part of the
decision-making process and he takes
care of the day-to-day functions of a
partnership firm right second type of
partner we say is a sleeping or of
dormant partner sleeping or a dormant
partner is the one who contributes
capital right in the partnership form
but he does not he does not take part in
decision-making he does not take any
part in the decision-making hosted of
apna passive approach auditor busca
Dobby profit and loss of skippa salata
but he has got nothing to do with the
decision-making play today Affairs
kokosh Tina's Iranian he scored as a
sleeping on a dormant partner right
then comes secret partner secret partner
is the one whose association with the
partnership firm is kept secret his
association that the partnership form is
not made known to the public right he
contributes capital he contributes
capital and he shares the profits and
losses of the form but his association
with the firm is kept secret it is not
known to the public at large right then
after comes number for nominal partner
nominal partner is a partner who does
not give any capital who does not
contribute a
Capital who does not take part in the
decision-making no capital he does not
take part in the decision-making but he
just allows his name to be used by the
partnership firm he just allows his name
to be used by the partnership firm right
but because he is because sometimes a
third party may be entering into an
agreement with a partnership firm
because of the name of the Normandin
partner so nominal partner stands liable
to the third party jointly with the
other partners whether he is contributed
any capital or not right that is a
respecting but whose live and Hoka okay
number of so next is our care by and
stop this is very interesting partner by
estoppel he also does not contribute any
capital or does not take part in the
decision-making of ye kya hai partner by
estoppel he by his own actions he by his
own actions gives an impression gives an
impression to the third party that he is
a member in the firm that he is a
partner in the firm he by his own
actions right gives an impression to the
third party that he is a part of the
partnership firm for example let us say
you