Differences: Registered Companies vs Partnerships vs Sole Proprietorship
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Questions and Answers

In a partnership, who are considered as agents of the firm?

  • Members of a company
  • Partners (correct)
  • Registered companies
  • Sole proprietors
  • How can a partnership be dissolved?

  • By following the Companies Act
  • By simply giving notice (correct)
  • By court order
  • By selling the partnership assets
  • What is the key difference between a partnership and a registered company?

  • Separate legal personality (correct)
  • The treatment under the Companies Act
  • Formation process
  • Existence of agents
  • When is a partnership agreement considered void?

    <p>When carrying on an illegal business</p> Signup and view all the answers

    What does the Companies Act govern?

    <p>Both partnerships and registered companies</p> Signup and view all the answers

    Why was the partnership contract in the case of Foster v Driscoll considered void?

    <p>Because it had been formed to procure an illegal act</p> Signup and view all the answers

    What happens in the case of an illegal partnership according to the text?

    <p>No actions can be brought for breach of agreement</p> Signup and view all the answers

    What is a group of persons who have entered into a partnership collectively called?

    <p>Firm</p> Signup and view all the answers

    Who are considered agents of each other in a partnership?

    <p>Partners</p> Signup and view all the answers

    What is required by registered companies under the Companies Act?

    <p>Filing with the Registrar of Companies</p> Signup and view all the answers

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