Please express your expert views on whether Company (Pvt. Ltd. Or Ltd.) can become Partner in Partnership Firm, give the fact that the partnership firm has unlimited liability against company whose member’s liability is limited to the capital contributed by the respective members (Shareholders).
Please support your reply with suitable legal provisions and case laws.
A company being a juristic person can enter in a partnership agreement but only if it is authorised by its objects. A director of the company has to sign on behalf of the company & it can also earn remuneration.
Yes there is no bar in Law for a company to enter into partnership provided it is not against the objects set out by the company. All Non-Individual Partners are to be represented by their authorised representatives.