Weakness The partnership model is one of the limitations of LorPel because when a problem arose‚ each of them held different ideas‚ and none of them had the authority to make the final call. If they would not compromise regarding the firm’s blueprint at all‚ the partnership might have to come to an end. Normally speaking‚ if there are no specific company policies in place to direct and govern a firm‚ the operation or growth would not sustain for a long time. In partnership like LorPel‚ the success
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Introduction There are many different forms of business entities available‚ a recent one being limited liability partnerships (LLP)‚ created by the Limited Liability Partnership Act 2000 (LLPA). This act came into force on the 6th of April 2001. As‚ LLP’s have qualities similar to partnerships‚ they are seen as a hybrid between a partnership and a company. An LLP is a ‘corporate body’ with ‘separate legal personality’‚ distinct from its members. Members enjoy limited liability and are not jointly
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|PAGE NO. | |1 |Introduction |2-4 | |2 |Overview of Limited Liability Partnership|4-10 | | |Act‚ 2008 | | |3 |Tax implication
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PROJECT BBA-5D COMPOSED BY MUHAMMAD REHAN ALI KHAN MUHAMMAD SHARJEEL YASEEN MUHAMMAD HASAN UDDIN ABDUL QADIR SAIFUDDIN SUBMITTED TO SIR QAMAR ABBAS ZAIDI TABLE OF CONTENT ACKNOWLEDGEMENT…………………………………………... 03 EXECUTIVE SUMMARY………………………………………….. 04 INTRODUCTION TO THE COMPANY…………………………… 05 INTRODUCTION TO TOPIC ……………………………………… 06 CASE STUDY……………………….……………………………... 07 * Terms and conditions for availing Ufone cellular connection * Ufone and Canadian firm
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LST2LBA LAW OF BUSINESS ASSOCIATION SEMESTER 1 2011 Assignment 2 Wincy Lo ID: 17000168 MONDAY 2:00pm Dr Philipp Maume 19 May 2011 To determine if Glamour Developments Pty Ltd (Glamour) is liable to pay Sarah‚ whether or not Jane had authority to enter into such contracts on behalf of Glamour must be established. To establish the existence and type of authority an agent has in terms of acting on behalf of the principal‚ we must examine agency law‚ the indoor management rule and the
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CORPORATION Section 2 of the Philippine Corporation Code defines corporation as: “An artificial being created by operation of law‚ having the right of succession and the powers‚ attributes and properties expressly authorized by law or incident to its existence.” NATURE OF A CORPORATION 1. Artificial being – It is not a real or natural person‚ but the law assumes it as a person. It can enter into contracts‚ can own‚ and dispose properties‚ can sue or be sued in its own name‚ and has separate
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Business Partnership Disadvantages • Business partners are jointly and individually liable for the actions of the other partners. • Profits must be shared with others. You have to decide on how you value each other’s time and skills. What happens if one partner can put in less time due to personal circumstances? • Since decisions are shared‚ disagreements can occur. A partnership is for the long term‚ and expectations and situations can change‚ which can lead to dramatic and traumatic split ups
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Theory Evaluation Formation EVOLUTIONARY We form relationships to pass on genes M: risk of uncertain paternity and cuckoldry‚ low level of parental investment F: risk losing M to other F and their resources‚ high level of parental investment M look for reproductive value e.g. youth‚ wide hips F look for socioeconomic advantages e.g. wealth‚ kindness REWARD NEED We are attracted to people who we find rewarding and form relationships as life alone is unrewarding. Done through:
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Limited Liability Partnership Limited Liability Partnership entities‚ the world wide recognized form of business organization has been introduced in India by way of Limited Liability Partnership Act‚ 2008. A There are no sources in the current document.Limited Liability Partnership‚ popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization. In an LLP one partner is not responsible or liable for another partner ’s misconduct or negligence;
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PARTNERSHIP AGREEMENT THIS AGREEMENT is made on the date specified in the schedule to this deed (the schedule) between the parties described in the schedule as the partners (the partners). 1). FORMATION AND TERMS The partners will carry on business in partnership on the terms set out in this agreement which partners will commence or is acknowledge to have commenced on the commencement date set out in the schedule and will continue until terminated in accordance with this agreement or otherwise
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