Image credit ndlink.org

Image credit ndlink.org

ZIMSEC O Level Commerce Notes: Partnership Deed

Partnership Act

  • Where a Partnership Deed has not been drafted, the Partnership Act is applicable
  • It is enacted by Parliament.
  • The Act sets out the following provisions:
  • the partners must contribute equal amounts of capital.
  • Any disputes must be settled by a majority decision.
  • Profits or losses are to be shared equally.
  • No partner must claim interest on capital.
  • No partner earns a salary.
  • Books of accounts must be kept at the place where business is conducted and all partners have the right to inspect them.
  • Importance:
  • used to form a partnership.
  • Applicable in the absence of a Partnership Deed.

To access more notes go to the Commerce Notes page.


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, chat with us using the chat feature at the bottom right of this screen