Mehan

Mehan

Published on 30 March 2021
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Transcript
00:01
Section 19(1)
00:02
Incoming partner
00:02
A person who is admitted as a partner in a firm.
00:02
Section 19(2)
00:02
00:03
A partner who retires from the firm.
00:03
Retiring partner
00:07
Types of Partner
00:09
Quasi
00:09
Active
00:09
Salaried
00:09
Dormnat
00:14
Capacity of Partner
00:14
Minor
00:17
Sound Mind
00:22
Capacity of Partner
00:26
Capacity of Partner
00:27
Minor
00:28
Any person less than 18 does not have the capacity to contract any agreement.
00:28
Sound Mind
00:28
Purpose of entering into a contract a person is said to be of sound mind if he is capable of understanding the contract.
00:34
Illegal purposes
00:36
Committing illegal act
00:38
Exceed of number
00:39
Illegal Partnership
00:39
When the number exceed the prescribed limit as per act.