1. Previous Lecture Discharge of Contracts & Remedies

2. Partnership - 1 Lecture # 9

3. Partnership Partnership Act 1932 Partnership Deed

4. Law of Partnership Partners Partnership Firm

5. Registration of Firms The Name of the Firm –District

6. Registration of Firms Principal place of Business –Head Office

7. Registration of Firms Other Places, where Firm carries on Business –Pakistan (may be)

8. Registration of Firms Joining date of partners to Firms –Same date or any other

9. Registration of Firms Name & Addresses of Partners –Name –Father/ Husband Name –Present Address –Permanent Address –CNIC No

10. Registration of Firms Duration of Firm –Specific Date –Completion of Undertaking –End of Some Event

11. Effect of Non Registration Such Firm cannot file a suit

12. Effect of Non Registration Any Person cannot file a suit against such Firm

13. Effect of Non Registration Partner cannot enforce his rights against the such Firm

14. Penalty for a False Statement Fine Imprisonment for 3 months Both

15. Definition and Nature of Partnership Association of Two or More Persons Agreement Business Carry on by all or least one Sharing Profit

16. Classes of Partners Active Partner –An invested person who is involved in the daily operations of the partnership. An active partner helps run the business to enhance his or her returns and is therefore considered a material participant. This person typically shares more risk and return versus a limited or silent partner.

17. Classes of Partners Partner by Estoppel or Holding out –Partner by estoppel -The person who falsely represents himself as a partner is known as partner by estoppel. If a person falsely represents himself as a partner of any firm or behaves in a way that somebody can have an impression that such person is a partner and on the basis of this impression transacts with that firm then that person is held liable to the third party. –Partner by Holding out – if the firm declare that the Partner by estoppel is indeed a partner & such partner remains quite

18. Classes of Partners Dormant or Sleeping Partner

19. Classes of Partners Nominal Partner –Not entitle of Profit

20. Classes of Partners Partner in Profits Only

21. Classes of Partners Working Partner –Special Qualification

22. Classes of Partners Sub Partner –One Partner share his Profit

23. Classes of Partners Incoming Partner Retired or Outgoing Partner

24. Next Lecture Law of Partnership - 2