PARTNERSHIP?

PARTNERSHIP ;

                        FINDING GOOD PARTNER IS A KEY TO SUCCESS,IN ANYTHING;IN MARRIAGE, IN BUSINESS AND ESPECIALLY IN INVESTING.

WHEN TWO OR MORE PERSONS DETERMINE THEIR RIGHTS AND DUTIES TO RUN ANY LEGAL BUSINESS UNDER A CONTRACT, IT IS CALLED "PARTNERSHIP" . THE PERSONS WHO FORM THE PARTNERSHIP ARE INDIVIDUALLY CALLED "PARTNER" AND COLLECTIVELY KNOWN AS "FIRM". THIS TYPE OF BUSINESS ORGANIZATION WAS INTRODUCED DUE TO THE FOLLOWING DEFICIENCIES IN THE SOLE TRADER SHIP.

1;SHORTAGE  OF CAPITAL.

2;MORE BURDEN OF LOSS.

3;FAILURE OF MANAGING BUSINESS AFFAIRS.