10 Questions
In a partnership, who are considered as agents of the firm?
Partners
How can a partnership be dissolved?
By simply giving notice
What is the key difference between a partnership and a registered company?
Separate legal personality
When is a partnership agreement considered void?
When carrying on an illegal business
What does the Companies Act govern?
Both partnerships and registered companies
Why was the partnership contract in the case of Foster v Driscoll considered void?
Because it had been formed to procure an illegal act
What happens in the case of an illegal partnership according to the text?
No actions can be brought for breach of agreement
What is a group of persons who have entered into a partnership collectively called?
Firm
Who are considered agents of each other in a partnership?
Partners
What is required by registered companies under the Companies Act?
Filing with the Registrar of Companies
Learn about the key differences between registered companies, partnerships, and sole proprietorships. Understand the responsibilities, management, and liabilities associated with each business structure.
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