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Tapan Amoria (Manager H.R.)     10 December 2009

Partneship deed

What are the advantages of dealing with the registered partnership firm over the un-registered partnership firm.

Should there be a clause in the partnership deed for the liability of the firm and partners, jointly and severally ?


 5 Replies

DILIP REDDY SRIPATHI (Lawyer)     13 December 2009

A Registered Partnership firm is recognized by law and enjoys the rights to sue the third parties or the partners they themselves incase of any violation or default. Even in business matters, the Registered Firm enjoy more previliges than a Non-Registered Firm in terms of getting Bank loan, winning confidence of clients and creditors, etc. A Non-Registered Firm do not hold any legal standing.

By nature, the liability of Partners in a Partnership firm is Unlimited but it is advisable to have a clause clearly stating the share of capital, profits and liability of each partner inorder to avoid any type of confusion in future.


Aryan Jadhav (Law Student & Associate)     15 December 2009

it depends upont the state law / act also. In some state registration of partnership firm is compulsory.

DILIP REDDY SRIPATHI (Lawyer)     15 December 2009

Yes. I agree with Mr. Aryan Jadhav. Its not mandatory to get the firm registered in few states though its advisable to do so.

Thanks for adding the point Mr. Aryan.

Avni Rachh (Article Assistant)     16 December 2009

Can you Pls provide the format of Partnership Deed?

advocate prerana (own)     17 December 2009

i want to know the stamp duty for partnership deed of contribution of rs.10000.

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