Partnerships- What is a Partnership? / State the Law that governs the formation of Partnerships in Zambia. / How is a Partnership formed? / What is a Partnership agreement? / What are the rights, duties and obligations partners in a Partnership. / Dissolution of a Partnership. / Advantages and disadvantages of a Partnership.

Partnerships- What is a Partnership? / State the Law that governs the formation of Partnerships in Zambia. / How is a Partnership formed? / What is a Partnership agreement? / What are the rights, duties and obligations partners in a Partnership. / Dissolution of a Partnership. / Advantages and disadvantages of a Partnership.

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Question

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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