Proprietary concern firm can be a partner in partnership firm?
pushkar nehete
(Querist) 03 May 2014
This query is : Resolved
Respected learned members, I am seeking your expert opinion that, whether any Proprietary Concern firm can be a partner in any Partnership firm?
R.V.RAO
(Expert) 04 May 2014
a proprietory concern is known only by the name of proprietor .all licences are in proprietor's individual name.
so the proprietor is nothing but an individual.any individual can be admitted as a partner of a firm if he is of contractual capacity age(minor can also be admitted subject to certain limitations,which will not apply to major partners)and of sound mind.
T. Kalaiselvan, Advocate
(Expert) 06 May 2014
Though the query is of academic in nature, expert Mr. R.V. Rao garu has given a proper reply to the query, I endorse the same.
R.V.RAO
(Expert) 06 May 2014
thanks.thiru kalaiselvan ji.
pushkar nehete
(Querist) 07 May 2014
Thank you Rao sir and kalaiselvan sir
