Rights of partners
- Every partner has right to take part in planning, implementation and control activities of the firm
- Every partner has right to express his opinion, give advices and view on any subject
- Every partner has right to inspect and enquire about the account and ask for the duplicate copy
- Every partner has right to share the profit according to the agreement
- Every partner has right to get interest on loan and advances
- Every partner has right to use the properties of the firm but only for the benefit of the firm not or personal use
- Every partner has right to leave the firm with consent of remaining partner
- Every partner has right to have interest on the property but should not sell the property to anyone without the consent of other partners
- Every partner has right to dissolve the firm with the consent of other partners
Duties of the partners
- It is the duty of every partners to share the loss occurred in a firm
- It is the duty of every partners to work honestly and faithfully and work for common benefit of all partners and firm
- It is the duty of every partners to work and make decisions within the authority
- It is the duty of every partners to maintain the financial status of the firm.
- It is the duty of every partners to stop the leakage in firm. There should not make any secret profit.
- It is the duty of every partners to compensate on the loss and damage to firm.
Top comments (0)