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18 October, 11:24

Two doctors who join forces in business for a

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  1. 18 October, 13:22
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    partnership

    Explanation:

    It is a term used in business to describe a relation between two or more individuals that have agreed to share profits, as well as losses, undertaking a lawful business.

    The persons in the agreement are called "partners", together they form a "firm".

    The partnership has the following characteristics:

    1) Membership

    2) Unlimited liability

    3) Sharing of profit and loss

    4) Mutual agency

    5) Voluntary registration

    6) Continuity

    7) Contractual relationship

    8) Transfer of interest
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