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Business
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| Number of pages / Number of words: |
4 / 999 |
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Sole traders and partnership just need to register to Inland Revenue and start trading. The Partnership Act 1890, section 1, defines a partnership as "the relation which subsists between persons carrying on a business in common with a view to profit". When a partnership is created, the parties often draw up a deed of partnership which includes the provision of capital, management, and the sharing of profits...
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When a partnership is created, the parties often draw up a deed of partnership which includes the provision of capital, management, and the sharing of profits. By the Companies Act 1985, section 716, an unlimited partnership must not normally have more than 20 members. A private company cannot trade until the Registrar of Companies gives the certificate of incorporation...
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