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Forms Of Business Organization

Question

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Name the partner, who neither contributes any capital nor takes active interest in the routine working of the firm, but only give his/her name for the goodwill of a partnership firm.
Nominal Partner
Sleeping Partner
Partner by Estoppel
Minimal Partner

Solution

A.

Nominal Partner

Some More Questions From Forms of Business Organization Chapter

What do you understand by a Private Company?

What do you understand by a Public Company?

Under what circumstances, is a partnership form of business organisation suitable ?

Write a short note on 'implied agency', one of the important characteristics of partnership and also true test of partnership.

Would you say that the sole proprietorship involves a lengthy and expensive procedure for its registration?

Explain whether the liability of a sole proprietorship is limited to the extent of his share in business.

Only the Karta has unlimited liability in HUF. Explain.

Define 'Partner by Holding Out'.

Explain how the company is an artificial person.

Discuss whether a company's existence is affected by the death of a member.

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